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MACMILLAN'S    COMMERCIAL    SERIES 
Edited  by  CHEESMAN   A.   HERRTCK 


EVERYDAY   BOOKKEEPING 


MACMILLAN'S    COMMERCIAL    SERIES 


Edited  by  Cheesman  A.  Herrick 

PRESIDENT   OF   GIKAKD   COLLEGK,    FORMERLY   DIRECTOR   OF   SCHOOL 
OF   COMMERCE,    PHILADELPHIA   CENTRAL   HIGH    SCHOOL 

Altmaier's  Commercial   Correspondence  and   Postal  Information 

A  simple,  practical  textbook  widely  used  with  great  success.  Makes  English  compo- 
sition interesting, 

BiGELOw  &  Arnold's  Elements  of  Business  Arithmetic 

A  practical,  elementary  treatment  of  the  subject,  suitable  for  use  as  a  review  book  at 
close  of  grammar  school  study  of  arithmetic. 

Bogle's  Comprehensive  Bookkeeping 

A  complete  manual  for  the  use  of  students  in  commercial  courses.  Blanks  and  a 
Teachers'  Manual,  made  to  accompany  this  text,  are  available  at  moderate  i)rices,  and 
these  books  form  a  good  working  basis  for  the  commercial  course  in  secondary  schools. 

Herrick's  The   Meaning  and   Practice  of  Commercial  Education 

This  book  explains  the  purpose  and  describes  the  actual  working  of  commercial 
schools.  It  treats  commercial  education  from  various  points  of  view,  and  shows  that 
this  form  of  instruction  is  a  result  of  present  economic  conditions  and  a  natural  step 
in  our  national  development.  An  appendix  supplies  a  number  of  curricula  for  schools 
of  various  grades,  and  there  is  a  serviceable  bibliography  of  the  subject, 

Herrick's  History  of  Commerce  and  Industry 

Presents  review  of  world  history  from  the  commercial  and  industrial  point  of  view 
with  enough  of  general  history  to  furnish  a  background. 

Hoover's  Science  and  Art  of  Salesmanship 

This  book  presents  salesmanship  as  the  newest  subject  for  commercial  schools.  Can- 
not fail  to  be  of  interest  and  profit  even  to  those  who  do  not  follow  salesmanship  as  a 
vocation. 

Thurston's  Business  Arithmetic  for  Secondary  Schools 

The  book  is  particularly  fitted  for  use  in  commercial  courses,  but  it  may  be  used  in 
any  practical  course  in  high  school  arithmetic.  It  deals  with  processes  and  business 
forms  used  in  modern  commercial  practice. 

Trotter's  Geography  of  Commerce 

In  this  book  there  is  a  union  of  the  two  phases  of  thought  which  form  the  basis  of  the 
geography  of  commerce.  It  interprets  the  activities  of  men  and  of  organizations  of 
men  as  they  are  dependent  upon  physical  conditions. 


MACMILLAN'S    COMMERCIAL   SERIES 

EVERYDAY 
BOOKKEEPING 


BY 


ARTEMAS   M.    BOGLE,   A.M. 

DEPARTMENT    OF    MATHEMATICS,    HIGH   SCHOOL 

KANSAS    CITY,    KANSAS 


•  *  ■'     '       •**•,*'••   ^  '>' 


THE  MACMILLAN   COMPANY 
1918 

All  rights  reserved 


-  H^^/'^ 

^kl 


COPYBIGHT,   1917, 

By  the  MACMILLAN  COMPANY. 


Set  up  and  electrotyped.     Published  April,  1917. 
Reprinted  December,  191 7. 


NorfaoolJ  ^re00 

J.  S.  Gushing  Co.  —Berwick  &  Smith  Co. 

Norwood,  Mass.,  U.S.A. 


PREFACE 

Everyday  Bookkeeping  presents  an  easy  method  of 
keeping  accounts.  It  was  prepared  for  the  instruction  of 
those  who  may  desire  to  keep  some  record  but  who  do  not 
find  the  methods  used  in  commercial  bookkeeping  suited 
to  their  needs.  Each  kind  of  account  is  treated  separately, 
and  the  treatment  is  made  elementary  enough  for  a  child 
to  understand  as  soon  as  the  matter  treated  comes  within 
his  or  her  experience.  Not  only  is  each  topic  treated  sepa- 
rately, but  each  treatment  is,  in  the  main,  independent  of 
the  others.  This  makes  it  possible  to  take  up  the  chapters 
in  any  order,  and  those  who  wish  instruction  on  a  particular 
point  can  get  that  without  having  to  study  everything 
up  to  that  point.  The  book  may  thus  serve  as  a  handbook 
on  the  topics  treated. 

There  are  taken  up  also  those  forms  of  commercial  paper, 
such  as  notes,  checks,  and  receipts,  for  which  nearly  every 
one  has  some  use.  The  business  statement  is  also  treated. 
Following  this  there  are  a  few  exercises  in  which  an  account 
is  to  be  written  with  each  item.  This  gives  a  review  and  it 
also  illustrates  the  principle  of  double  entry  bookkeeping. 
There  are  also  given  suggested  forms  of  books  with  special 
columns.  These  are  often  convenient  for  accounts  of  limited 
range.  Special  column  books  are  also  treated,  as  they  are 
extensively  used  in  some  lines  of  business. 

Some  portions  of  this  book  can  be  taught  to  pupils  who 
are  quite  young  by  giving  them  an  occasional  lesson  on 


382971 


vi  PREFACE 

some  topic,  as  the  cash  account,  and  letting  it  cover  a  con- 
siderable period. 

One  who  masters  the  contents  of  this  book  will  have 
gained  information  about  common  business  forms,  will  have 
a  simple  method  of  keeping  accounts,  will  have  learned  the 
principles  of  debiting  and  crediting,  and  will  have  laid  a 
foundation  for  the  study  of  commercial  bookkeeping. 

This  book  is  published  in  the  hope  that  it  will  contribute 
in  some  degree  to  the  forming  of  more  systematic  business 
habits  by  those  in  the  schools  who  are  soon  to  be  engaged 
in  the  activities  of  life. 

A.  M.  B. 

March  1,  1917. 


CONTENTS 


Preface  

Editor's  Introduction  . 
Everyday  Bookkeeping 

Introductory  Statement     . 

About  Forms  and  Blank  Books 

Debits  and  Credits     . 

Account     .... 

Chapter  I  —  The  Cash  Account 

Exercise  1  —  A  Boy's  Cash  Account 

Illustration  of  the  Cash  Account 

Exercise  2  —  A  Young  Lady's  Cash  Account 

Exercise  3  —  Another  Cash  Account  for  a  Boy 

Exercise  4  —  A  School  Girl's  Cash  Account 

Exercise  5  —  A  Farmer  Boy's  Cash  Account 

Exercise  6  —  A  Girl's  Cash  Account 

Exercise  7  —  A  Carpenter's  Cash  Account 

Exercise  8  —  A  Laborer's  Cash  Account    . 

Another  Plan  for  Keeping  an  Account 

Exercise  9  —  A  Cash  Account  for  Basket  Ball  Team 

Exercise  10  —  A  Cash  Account  for  Baseball  Team 

Exercise  11  —  A  Farmer's  Cash  Account 

Exercise  12  —  A  Teacher's  Cash  Account 

Suggestions  about  Keeping  Accounts 

Chapter  II  —  Personal  Accounts 

Exercise  1  —  Account  with  Samuel  Wilson 
Exercise  2  —  A  Farmer's  Account  with  a  Blacksmith 
Exercise  3  —  A  Blacksmith's  Account  with  a  Farmer 
Exercise  4  —  An  Account  between  Two  Neighbors    , 
Exercise  5  —  Pupil's  Account  with  Charles  Baldwin 
Exercise  6  —  Pupil's  Account  with  J.  H.  Stewart 
Exercise  7  —  Pupil's  Account  with  W.  S.  Duff 


PAGE 

V 

xi 
1 

1 
1 
2 
2 

3 

4 

5 

6 

7 

8 

9 

11 

13 

14 

15 

15 

18 

19 

21 

23 
26 
26 
28 
29 
29 
30 
30 
31 


VIU 


CONTENTS 


Chapter  III  —  Property  Accounts      .... 
Exercise  1  —  Account  with  a  Refreshment  Stand 
Exercise  2  —  Account  with  a  Printing  Press 
Exercise  3  —  Account  with  Hotbed  Plants 
Exercise  4  —  Account  of  Experiment  with  Leaming  Corn 
Exercise  5  —  Account  of  Experiment  with  Leaming  Corn 
Exercise  6  —  An  Account  with  a  Flock  of  Chickens  . 
Exercise  7  —  Account  with  an  Orchard  for  Season    . 
Exercise  8  —  Account  with  Dairy  Cow  "Maude" 
Exercise  9  —  Account  with  Field  of  Wheat  —  40  Acres 
Exercise  10  —  Account  with  Field  of  Corn  —  35  Acres 
Exercise  11  —  Account  with  an  Ice  Cream  Stand 
Exercise  12  —  Account  with  a  Soda  Pop  Stand 
Exercise  13  —  Account  with  a  Caf6  . 
Exercise  14  —  Account  with  a  Bird  Home 
Exercise  15  —  Account  with  Shop  Work   . 
Exercise  16  —  Account  with  a  Sewing  Parlor 
Exercise  17  —  Account  with  an  Art  Shop 
Exercise  18  —  Account  with  an  Automobile 

Chapter  IV  —  Promissory  Notes 
Exercise  in  Writing  Notes 

Chapter  V  —  Account  with  Notes 
Exercise  1  —  Accounts  with  Notes 
Exercise  2  —  Accounts  with  Notes 
The  Bill-Book    .... 
Exercise  for  the  Bill-Books 

Chapter  VI  —  Orders  and  Checks 
Exercise  in  Writing  Checks 

Chapter  VII  —  Account  with  a  Bank 

Exercise  1  —  Account  with  The  Home  State  Bank 
Exercise  2  —  Account  with  The  Commercial  National  Bank 
Accounts  with  a  Savings  Bank  . 
Exercise  for  Savings  Bank  Account   . 

Chapter  VIII  —  Incidental  Accounts 
Exercise  1  —  An  Account  with  Interest 
Exercise  2  —  An  Account  with  Expenses  . 
Exercise  3  —  An  Account  with  Commissions 
Exercise  4  —  An  Account  with  Pasturing  Cattle 
Exercise  5  —  Account  with  Opening  Riverview  Addition 


CONTENTS  ix 

PAGE 

Chapter  IX  —  Receipts 78 

Exercise  for  Writing  Receipts 79 

Chapter  X  —  Bills  or  Invoices 80 

Exercise  for  Writing  Bills 81 

Chapter  XI  —  Statements  82 

Exercises  for  Statements 86 

Chapter  XII  —  Double  Entry 90 

The  Proprietor's  Account           .       , 91 

The  Loss  and  Profit  Account 91 

Illustration  of  Accounts              92 

The  Trial  Balance 96 

Finding  the  Present  Worth 96 

Illustration  of  Accounts  with  Closing  Entries              ...  98 

Directions  for  Writing  a  Complete  Exercise       ....  100 

Set  I  —  Transactions  for  a  Farmer    .         .         .         .         .         .  101 

Set  II  —  Transactions  for  a  Young  Man 104 

Chapter  XIII  —  Special  Column  Books 109 

Household  Expenses 109 

Exercise  for  Household  Accounts 109 

A  Form  of  Special  Column  Journal  for  Household  Accounts     .     110 
A  Suggested  Exercise  —  Determining  Cost  of  Meals  .         .114 

Another  Form  of  Book  for  Household  Accounts         .         .         .115 
Exercise  for  a  Physician's  Cash  Account  .         .         .         .116 

A  Form  of  Special  Column  Cash-Book  for  a  Physician      .         .118 
Illustration  of  a   Special   Colum':   Cash-Book  Suitable  for  a 

Farmer's  Wife 120 

Index  and  Glossary 123 


EDITOR^S  INTRODUCTION 

The  book  which  follows  is  designed  to  serve  the  double 
purpose  of  furnishing  an  easy  treatment  of  applied  mathe- 
matics and  a  brief  practical  system  of  accounts.  It  ought 
to  be  a  highly  useful  book  in  either  direction.  For  quite 
twenty  years  students  of  educational  methods,  and  observers 
of  educational  tendencies,  have  united  in  the  statement 
that  the  results  from  the  teaching  of  arithmetic  have  not  been 
commensurate  with  the  time  and  effort  directed  to  this  end. 
This  is  likely  due  to  the  vague  and  indefinite  instruction 
given ;  arithmetic  generally  is  not  linked  up  with  anything 
practical.  Such  computations  as  are  presented  in  this 
manual  offer  the  sort  of  work  in  arithmetic  on  which  the 
pupils  are  likely  to  be  tested  after  they  leave  school.  More 
attention  to  such  exercises  as  these  and  less  to  such  matters 
as  square  and  cube  root,  progressions,  and  ratio  and  propor- 
tion, would  lend  interest  and  give  a  better  return. 

In  his  manual  on  the  teaching  of  arithmetic  Professor 
David  Eugene  Smith  comments  thus  in  describing  the 
work  of  the  eighth  school  year:  ^^It  is  not  worth  while  to 
teach  an  elaborate  form  of  bookkeeping  to  the  average 
citizen.  On  the  other  hand  it  is  necessary  that  every  one 
should  know  how  to  keep  simple  accounts  and  this  work 
should  be  taken  up  in  this  year."  In  describing  the  charac- 
ter of  the  proposed  work  Professor  Smith  further  says,  ^'It 
should  relate  to  the  income  and  expenditures  of  daily  life 
in  the  home,  on  the  farm,  or  in  the  shop." 

xi 


xii  EDITOR'S  INTRODUCTION 

While  the  time  spent  on  arithmetic  has  failed  to  give  an 
adequate  return  for  the  investment,  the  same  statement  is 
even  more  true  of  the  time  spent  on  bookkeeping.  The 
early  treatises  on  this  subject  with  their  cumbersome  day 
books,  journals,  and  ledgers  have  to  a  surprising  degree 
continued,  and  to  them  have  been  added  elaborate  and 
highly  complex  special  books  which  seek  to  give  a  complete 
articulated  system  of  bookkeeping. 

Business  schools  have  set  themselves  to  give  actual 
business  experience  and  to  furnish  full-fledged  bookkeepers. 
This  has  not  only  meant  a  large  waste  of  the  student's 
time,  but  it  has,  in  addition,  supplied  what  is  an  undesirable 
product.  Business  men  testify  again  and  again  that  book- 
keepers are  most  useful  to  them  when  they  can  perform  the 
fundamental  operations  rapidly  and  correctly,  and  know  in 
addition  the  principles  of  accounts.  Much  of  the  highly 
specialized  training  in  bookkeeping  given  in  commercial 
schools  is  found  to  be  of  little  value  when  the  future  book- 
keeper takes  up  his  work.  It  is  not  the  bookkeeping  of  the 
practical  world  and  he  is  not  employed  to  carry  out  his 
attenuated  system.  Instead,  he  must  apply  simple  princi- 
ples and  perform  correct  computations  for  a  system  of 
bookkeeping  already  in  operation  in  the  office  or  business 
with  which  he  connects  himself. 

There  is,  however,  a  place  in  our  system  of  education  for 
teaching  the  fundamentals  of  bookkeeping  and  with  this 
there  should  be  coupled  practical  exercises  applying  those 
principles  to  everyday  affairs.  May  we  not  go  further  and 
say  that  some  knowledge  of  accounts,  and  the  application 
of  accounts  to  the  various  practical  interests  which  concern 
the  future  lives  of  the  young  people  being  educated,  is  a 
moral  obligation  to  every  child  as  a  part  of  his  equipment 
for  life?  No  subject  is  more  exacting  in  its  demands  for 
accuracy  than  is  bookkeeping.     A  result  must  be  either 


EDITOR'S  INTRODUCTION  xiii 

right  or  wrong,  and  its  value  depends  upon  its  absolute 
correctness.  ''Nearly  right"  or  ''correct  in  principle,"  or 
any  other  subterfuge,  fails  to  meet  the  bookkeeping  standard. 

In  his  famous  Letters  to  his  son  Lord  Chesterfield  wrote, 
"Keep  an  account,  in  a  book,  of  all  that  you  receive,  and 
of  all  that  you  pay,  for  no  man  who  knows  what  he  receives 
and  what  he  pays  ever  runs  out." 

Mr.  Bogle's  book  shows  the  simplicity  with  which  the 
accounts  of  everyday  life  may  be  kept,  and  the  application 
of  the  principles  of  accounts  to  various  interests  such  as  a 
child  with  an  allowance,  accounts  of  a  literary  or  debating 
society,  accounts  of  a  baseball  team,  accounts  of  a  house- 
wife, of  a  farmer,  and  of  a  physician.  No  better  training 
could  be  imposed  upon  children  than  to  require  them  to 
keep  a  simple  record  of  income  and  outgo.  Thereby  they 
will  learn  to  keep  watch  over  expenditures  and  will  be 
taught  to  look  forward  to  a  balance  at  the  end  of  a  period 
for  which  an  allowance  is  made.  Housewives  can,  by  such  a 
system  of  accounts  as  is  shown  on  pages  110  and  111,  balance 
the  different  items  in  their  expenditures,  keep  an  intelligent 
oversight  over  outgo,  and  often  prevent  dire  distress  in  the 
home.  Farmers  can  ill  afford  not  to  keep  a  simple  account 
record,  not  only  of  the  operations  of  the  farm  as  a  whole, 
but  subdivided  to  show  the  results  from  given  fields,  the 
production  of  different  crops,  the  maintenance  of  a  dairy, 
the  raising  of  animals,  and  the  like.  If  such  accounts 
were  kept  with  the  different  branches  of  work  on  a  farm,  the 
farmer  would  shortly  be  able  to  single  out  the  parts  of  his 
operation  which  net  him  the  largest  returns,  and  either  to 
eliminate  the  loss  from  certain  branches  of  his  work  or  dis- 
continue them  altogether. 

The  teacher,  the  minister,  the  lawyer,  the  real  estate  and 
insurance  agent,  the  gardener,  the  treasurer  of  any  fund  how- 
ever small,  the  mechanic,  the  laborer,  the  boarding-house 


XIV  EDITOR'S  INTRODUCTION 

keeper,  the  printer,  and  a  multitude  of  other  practical  people 
who  do  business  in  a  small  way,  should  be  schooled  in  the 
sort  of  record  keeping  which  is  presented  in  this  book.  To 
a  surprising  extent  citizens  of  America  will  at  some  time  be 
responsible  for  the  receipt  and  disbursement  of  moneys  not 
their  own,  and  the  ability  to  keep  an  intelligent  record  and 
to  present  an  understandable  statement  should  be  an  ele- 
ment in  the  education  of  every  person. 

Obviously,  the  elaborate  course  of  bookkeeping  often 
given  in  the  private  commercial  school,  or  the  commercial 
course  of  the  public  high  school,  is  not  possible  for  the 
rank  and  file  of  pupils.  Bookkeeping  is  often  taught  as 
though  those  who  studied  it  were  to  be  head  bookkeepers. 
In  the  first  place  a  vast  majority  of  the  pupils  never  reach 
these  schools,  and  those  who  do  so  give  themselves  largely 
to  other  studies.  After  some  years  of  observation  on  work 
in  commercial  schools,  and  practical  experience  in  a  home 
and  in  the  rearing  of  a  family  of  children,  the  writer  is  firm 
in  the  belief  that  all  boys  and  girls  should  be  taught  the 
fundamentals  of  bookkeeping,  and  the  application  of  arith- 
metic to  the  keeping  of  their  everyday  accounts. 

A  writer  on  Child  Training  by  Bookkeeping  in  ^'  The  Out- 
look "  for  August,  1906,  holds  that  such  training  as  is  sug- 
gested above  is  more  ethical  than  it  is  financial.  It  is  urged 
that  as  soon  as  a  child  has  a  pocket,  he  should  have  a  purse 
in  it,  and  money  in  this  purse.  But  this  is  not  enough. 
There  should  be  a  system  of  record  to  keep  track  of  this 
money  with  a  frequent  reviewing  of  the  record  by  some  older 
person.  Mr.  Bogle's  book  is  prepared  in  the  belief  that  it 
will  serve  a  useful  purpose  in  the  education  of  boys  and  girls. 

C.  A.  H. 

March  1,  1917, 


EYERYDAY  BOOKKEEPING 


EVERYDAY  BOOKKEEPI^a 


INTRODUCTORY 

Introductory  Statement.  This  book  gives  a  simple  method 
of  keeping  accounts.  This  method  may  be  used  by  a  boy 
or  girl  or  by  a  person  doing  a  small  business.  It,  however, 
would  not  be  suitable  for  a  concern  doing  a  large  business. 
Neither  would  plans  used  in  a  large  business  be  practicable 
for  a  person  having  but  few  business  transactions  a  week. 
But  the  principles  used  in  this  book  are  those  which  underlie 
all  bookkeeping. 

About  Forms  and  Blank  Books.  It  is  hoped  that  many 
who  use  this  text-book  will  be  led  to  keep  a  record  of  their 
own  money  transactions.  To  do  this  a  suitable  book  is 
needed. 

There  are  many  standard  bookkeeping  forms  which  may 
be  secured  of  almost  any  stationer.  For  much  of  the  work 
illustrated  in  this  text-book,  especially  for  young  people,  a 
small  book  about  4|^  inches  by  7  inches  is  quite  satisfactory. 
(See  pages  16  and  25.)  If  the  plan  illustrated  on  pages  5 
and  27  is  followed,  a  book  about  6  in.  by  9  in.  with  two 
money  columns  to  a  page  will  be  better.  If  something 
more  pretentious  is  desired,  such  as  for  the  special  w^ork 
which  is  treated  in  the  latter  part  of  the  book,  ask  a  sta- 
tioner for  the  special  column  journals,  special  column  cash 
books,  and  trial  balance  books. 

Sometimes  it  is  more  satisfactory  to  rule  a  form  that  just 

B  1 


2  EVERYDAY  BOOKKEEPING 

suits  one's  needs.  In  this  event,  procure  a  Record  Book  of 
suitable  size  and  rule  it  yourself.  A  satisfactory  width  for 
the  cents  column  is  3^  to  f  of  an  inch  and  for  the  dollar 
column  i  to  f  of  an  inch.  Note  that  a  double  ruled  line 
occurs  at  the  left  of  the  dollar  columns  and  a  single  line 
between  the  dollar  and  the  cent  columns.  A  rather  stiff 
pointed  pen  will  give  most  satisfactory  results  in  ruling. 

Debits  and  Credits.  Two  of  the  common  terms  used  in 
business  are  debit  and  credit.  These  are  applied  to  persons 
and  also  to  such  items  as  cash,  merchandise,  notes,  interest, 
salary,  and  expense. 

Account.  An  account  is  a  systematic  arrangement,  under 
a  single  heading,  of  all  the  debit  and  credit  items  of  a  series 
of  transactions  with  the  same  person,  or  pertaining  to  the 
same  thing.  In  an  account,  the  debits  are  placed  at  the 
left  and  the  credits  at  the  right. 


CHAPTER  I 
THE  CASH  ACCOUNT 

Money  includes  the  gold,  silver,  nickel,  and  copper  coins: 
made  by  the  government,  also  paper  currency  issued  by  the 
same  authority.  Money  is  used  as  a  measure  of  value  and 
as  a  medium  of  exchange.  Values  are  reckoned  and  re- 
corded in  money.  Cash  includes  money,  checks,  money 
orders,  sight  drafts,  or  anything  that  can  be  converted 
into  money  on  demand.  The  cash  account  is  the  record 
of  cash  transactions.  It  is  a  very  important  account  to 
keep. 

An  account  is  kept  by  a  system  of  debits  and  credits. 
There  are  different  ways  of  arranging  accounts,  but  the 
illustration  given  on  page  5  shows  a  simple  method.  To 
enable  the  pupil  to  decide  the  debits  and  the  credits,  rules 
will  be  given.     Here  is  the  one  for  cash : 

Rule  for  Debiting  and  Crediting  Cash 

[  received. 


Debit  ] 
Credit 


cash  when  it  is 


given  out. 


Balancing.  The  footing  of  the  debit  column  gives  the 
amount  of  cash  received;  and  the  footing  of  the  credit 
column  gives  the  amount  paid  out.  The  difference  be- 
tween these  footings  is  the  balance  or  the  amount  on  hand, 
and  when  placed  in  the  column  with  the  smaller  amount  will 
make  the  two  columns  balance.     The  word  Balance  or  the 

3 


4  EVERYDAY  BOOKKEEPING 

phrase  Amount  on  hand  may  be  written  in  the  explanation 
column.  Then  the  footings  of  each  column  should  be 
written.  An  account  may  be  balanced  at  such  times  as 
may  be  desired. 

Ruling.  After  the  balance  has  been  written,  rule  a  single 
line  exactly  upon  the  blue  line  in  the  account  book.  This 
is  the  addition  line.  Below  the  footings,  and  also  at  the 
left,  rule  two  lines  very  close  together,  with  the  upper  one 
exactly  on  the  blue  line.  It  is  usual  to  use  red  ink  for  these 
rulings  and  also  for  the  balance,  but  the  same  colored  ink 
may  be  used  as  for  the  other  part  of  the  account. 

Re-opening.  To  re-open  the  account  the  amount  on  hand 
is  brought  below  the  rulings  and  placed  in  the  column  oppo- 
site that  in  which  it  was  first  placed.  This  is  done  when  the 
record  is  to  be  continued. 

A  proper  arrangement  of  the  cash  account  is  shown  in  the 
model  on  the  opposite  page. 

Exercises  for  Practice 

Directions.  Write  up  the  following  exercises,  observ- 
ing as  a  model  the  form  given.  Refer  to  the  rule  for  debit- 
ing and  crediting  cash  until  it  is  thoroughly  familiar. 

EXERCISE  1 

A  Boy's  Cash  Account 
January,  19 — . 

1.   Amount  on  hand,  $2.50. 

3.  Paid  for  flash  Hght,  $1.50. 

4.  Paid  car  fare,  10c. 

5.  Received  for  running  errand,  50c. 

7.   Received  for  carrying  valise  to  station,  10c. 
12.   Paid  for  show,  20c. 
15.   Received  for  2  days'  work,  $2.50. 
18.   Paid  for  shoes,  $2.75. 
21.   Paid  car  fare,  10c. 


THE  CASH  ACCOUNT 


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Remark.  It  is  quite  common,  in  balancing  the  cash 
account,  to  use  the  word  Balance  instead  of  the  phrase 
Amount  on  hand.  But  the  latter  is  more  definite,  and  it  is 
better  for  the  beginner  to  use  it. 


6  EVERYDAY  BOOKKEEPING 

January,  19 — 

26.   Received  for  selling  papers,  50c." 

Paid  for  letter  paper,  10c. 
-28.   Received  for  doing  chores,  75c. 
29.   Paid  for  book,  50c. 
31.   Balance  and  rule  the  account.     (Balance,  $1.60.) 

Fiebruafy,  19 — . 

1.  Transfer  the  balance  below  the  rulings. 

3.  Paid  for  lunch,  15c. 

7.  Paid  for  gloves,  50c. 

10.  Received  for  4  days'  work,  $5. 

12.  Paid  for  window  glass  broken,  50c. 

16.  Received  for  delivering  message,  25c. 

19.  Paid  for  repairing  shoes,  90c. 

.  21.  Paid  for  pair  skates,  $1. 

22.  Paid  for  bicycle  tire,  $2.50. 

23.  Received  for  delivering  groceries  one  half  day,  75c. 

24.  Paid  for  tie,  25c. 

25.  Received  for  shoveling  snow  from  sidewalk,  50c. 

26.  Paid  for  lunch,  15c. 
26.  Paid  car  fare,  10c. 

28.   Balance  and  rule  the  account.     (Balance  $2.05.) 

EXERCISE  2 

A  Young  Lady's  Cash  Account 
February,  19 — . 

1.  Amount  on  hand,  $7.50. 
1.   Received  allowance,  $5. 

3.  Paid  for  sheet  music,  25c. 

4.  Paid  for  music  lesson,  $1. 
10.   Paid  for  fountain  pen,  $2.50. 

10.  Paid  car  fare,  5c. 

11.  Paid  for  ribbon,  15c. 

11.   Paid  for  music  lesson,  $1. 

16.   Received  for  errands  for  Mr.  Browning,  75c. 

18.   Paid  car  fare,  10c. 

18.    Paid  for  music  lesson,  $1. 

23.  Received  for  doing  errands  for  Mr.  Coffey,  50c. 

24.  Paid  music  club  dues  for  February,  20c. 


THE  CASH  ACCOUNT  7 

February,  19 — . 

25.   Paid  for  music  lesson,  $1. 

25.   Paid  for  lunch,  15c. 

28.   Balance  and  rule  the  account.     (Balance,  $6.35.) 

March,  19 — . 

1.  Transfer  the  balance  below  the  rulings. 

1.  Received  allowance,  $5. 

4.  Paid  for  music  lesson,  $1. 

7.  Received  for  doing  secretarial  work  for  Mrs.  Wilson,  50c. 

7.  Paid  for  stamps  and  stationery,  50c. 

8.  Received  for  mending  Aunt  Orpha's  dress,  50c. 
11.  Paid  for  music  lesson,  $1. 

11.  Paid  car  fare,  10c. 

15.  Paid  for  evening  gloves,  $1. 

17.  Received  for  helping  Aunt  Caroline  clean  windows,  50c. 

18.  Paid  for  music  lesson,  $1. 
25.  Paid  for  car  fare,  10c. 
25.  Paid  for  music  lesson,  $1. 

28.   Paid  for  sash  for  my  lace  dress,  $1.50. 

28.  Paid  for  book  for  Helen's  present,  $1.45. 

29.  Paid  music  club  dues  for  March,  20c. 

29.   Received  for  doing  secretarial  work  for  Mrs.  Wilson,  $1.75. 

31.   Paid  for  tooth  brush  and  powder,  50c. 

31.   Balance  and  rule  the  account.     (Balance,  $5.25.) 

EXERCISE   3 

Another  Cash  Account  for  a  Boy 
May,  19—. 

1.  Amount  on  hand,  $1.30. 

3.   Received  of  Samuel  Wilson  for  3  days'  hoeing,  at  50c. 
6.   Paid  for  car  fare,  10c. 
8.   Bought  necktie,  20c. 
13.   Paid  for  club  dues,  10c. 
18.   Received  of  John  Bowser  for  cutting  weeds,  1^  days  at  50c. 

20.  Paid  for  amusements,  20c. 

21.  Paid  for  expenses  at  social,  25c. 

24.   Received  of  Wm.  Cooper  for  helping  to  re-plant  corn,  3  days  at  50c. 

27.   Paid  for  a  baseball,  25c. 

31.   Balance  and  rule  the  account.     (Balance,  $3.95.) 


8  EVERYDAY  BOOKKEEPING 

June,  19 — . 

1.  Transfer  the  balance  below  the  rulings. 

3.  Paid  for  club  dues,  10c. 

6.  Bought  hat,  60c  ;  pair  shoes,  $2.;  handkerchief,  15c. 

10.  Paid  for  car  fare,  10c. 

15.  Received  of  Samuel  Wilson  for  cultivating  corn,  5  days  at  50c. 

17.  Paid  for  baseball  bat,  15c. 

20.  Bought  pocket  knife,  40c. 

24.  Paid  for  refreshments,  15c. 

26.  Received  of  Uncle  John  for  helping  to  repair  fence,  1|  days  at  50c. 
30.  Balance  and  rule  the  account.     (Balance,  $3.55.) 

EXERCISE    4 

A  School  Girl's  Cash  Account 
September,  19 — . 

9.   Received  of  father,  $5. 

9.   Bought  algebra,  60c  ;  civil  government,  75c  ;  Latin  lessons,  65c; 
English  composition,  55c. 

12.  Paid  for  car  fare,  10c. 

15.  Paid  for  hair  band,"  10c. 

16.  Bought  drawing  material,  95c. 

22.  Paid  for  ice  cream  soda,  10c. 

24.  Paid  for  ribbon,  15c. 

25.  Bought  bottle  ink,  10c  ;  pens,  5c ;  paper,  10c. 

29.  Paid  for  comb,  10c. 

30.  Balance  and  rule  the  account.     (Balance,  70c.) 

October,  19—. 

Transfer  the  balance  below  the  rulings. 

1.   Bought  pencil  tablet,  10c. 

6.   Paid  for  barrette,  10c. 
10.   Received  of  mother,  $1. 
10.    Bought  pair  shoes,  $1.40. 

13.  Paid  for  amusements,  10c. 
15.   Received  of  father,  $1. 

17.  Paid  car  fare,  10c. 
20.   Paid  for  candy,  10c. 

23.  Bought  bottle  fixative,  20c. 

25.    Paid  membership  fee  English  Club,  25c. 

27.  Paid  for  pencils,  10c. 

31.  Balance  and  rule  the  account.     (Balance,  25c.) 


THE  CASH  ACCOUNT  9 

EXERCISE   6 

A  Farmer  Boy's  Cash  Account 
January,  19 — . 

1,  Received  from  father,  $3. 

2.  Bought  account  book,  15c. 
2.   Bought  pair  skates,  $1.25. 

20.   Paid  my  share  of  expense  at  social,  20c. 
25.   Bought  pair  gloves,  75c. 

30.  Bought  tie,  25c. 

February,  19 — . 

5.   Received  for  helping  neighbor  drive  cattle  to  market,  50c. 
10.   Bought  pair  ear  muffs,  20c. 
12.   Bought  candy,  10c. 
15.   Bought  ticket  for  entertainment,  25c. 
25.   Paid  for  sewing  ball  cover,  15c. 

March,  19 — . 

1.   Received  from  father,  $1. 
4.    Bought  pair  overshoes,  75c. 

8.  Paid  postage  on  letter,  2c. 
25.    Paid  for  mending  bridle,  10c. 

31.  Balance  the  account.     (Balance,  33c.) 

April,  19—. 

1.   Transfer  the  balance  below  the  rulings. 
10.    Bought  lead  pencil,  5c. 
15.   Received  from  neighbor  for  hauling  corn  to  market,  75c. 

May,  19—. 

9.  Bought  2  collars,  25c. 
15.   Bought  base  ball,  50c. 

27.   Received  from  father,  50c. 
30.   Bought  pair  suspenders,  40c. 

June,  19 — . 

10.   Bought  straw  hat,  25c. 

15.   Received  from  father,  $1. 

22.   Bought  pair  socks,  20c. 

30.   Balance  the  account.     (Balance,  93c.) 


10  EVERYDAY  BOOKKEEPING 

July,  19—. 

1.   Transfer  the  balance  below  the  rulings. 
15.   Paid  expense  at  ice  cream  social,  20c. 

18.  Sold  15  watermelons,  $1.75. 
25.   Bought  shirt,  75c. 

28.   Sold  20  watermelons,  $2.50. 

August,  19 — . 

4.  Sold  20  watermelons,  $2.25. 

10.  Bought  pocket  knife,  60c. 

12.  Sold  30  watermelons,  $3.50. 

20.  Bought  2  handkerchiefs,  25c. 

25.  Received  from  Hiram  Brandon  for  carrying  water  for  threshers, 
50c. 

September,  19 — . 

8.   Paid  admission  to  county  fair,  25c. 
8.   Paid  for  pop  corn,  5c. 
15.   Paid  my  share  on  ball  for  school,  10c. 

20.  Bought  6  pen  points,  5c. 

27.  Paid  postage  on  letters,  6c. 

30.  Balance  the  account.     (Balance,  $9.12.) 

October,  19—. 

1.   Transfer  the  balance  below  the  rulings. 
10.   Bought  pair  shoes,  $2.25. 

19.  Bought  cap,  75c. 

25.  Bought  bottle  ink,  10c. 

November,  19 — . 

4.   Bought  fountain  pen,  $1. 
12.   Paid  for  repairs  on  shoes,  15c. 

21.  Bought  collar  button,  10c. 

26.  Bought  skate  strap,  10c. 

December,  19 — . 

3.   Bought  iron  for  sled  runner,  30c. 
12.   Paid  expense  at  oyster  supper,  20c. 
18.   Bought  Christmas  present  for  mother,  25c  ;  for  father,  20c. 

28.  Paid  admission  at  entertainment,  15c. 

31.  Balance  the  account.     (Balance,  $3.57.) 


THE  CASH  ACCOUNT  11 

EXERCISE   6 
A  Girl's  Cash  Account 


January,  19 — . 

1.   Received  monthly  allowance  from  mother,  50c. 
5.   Bought  account  book,  20c. 
9.    Bought  ribbon,  5c. 
15.   Bought  letter  paper,  10c. 

26.  Paid  postage  on  letters,  4c. 

February,  19 — . 

1,   Received  monthly  allowance  from  mother,  50c. 

8.    Bought  hair  pins,  10c. 
12.   Bought  comb,  20c. 
21.   Bought  handkerchief,  15c. 

March,  19—. 

1.   Received  monthly  allowance  from  mother,  50c. 

3.  Bought  candy,  5c. 
10.   Bought  bracelet,  49c. 
21.   Bought  pins,  3c. 

31.   Balance  the  account.     (Balance,  9c.) 

April,  19—. 

1.   Transfer  the  balance  below  the  rulings. 

1.   Received  monthly  allowance  from  mother,  50c. 

8.   Bought  pair  stockings,  20c. 
15.   Bought  beads,  15c. 
23.   Bought  spool  silkateen,  5c. 

May,  19—. 

1.   Received  monthly  allowance  from  mother,  50c. 

4.  Bought  thimble,  5c. 

7.   Bought  paper  needles,  10c. 

15.  Bought  candy,  5c. 

27.  Paid  postage  on  letters,  6c. 

June,  19 — . 

1.   Received  monthly  allowance  from  mother,  50c. 
10.   Bought  ribbon,  20c. 

16.  Bought  6  pen  points,  5c. 
21.   Bought  two  skeins  floss,  5c. 


12  EVERYDAY  BOOKKEEPING 

June,  19  — . 

25.   Bought  crochet  hook,  5c. 

30.   Balance  the  account.     (Balance,  58c.) 

July,  19—. 

1.   Transfer  the  balance  below  the  rulings. 

1.    Received  monthly  allowance  from  mother,  50c. 

3.  Bought  collar,  25c. 

4.  Bought  ice  cream,  10c. 
20.   Bought  handkerchief,  20c. 

August,  19 — . 

1.   Received  monthly  allowance  from  mother,  50c. 
10.   Bought  yard  lawn  for  apron,  15c  ;  bolt  fancy  braid,  10c. 

17.  Bought  vase  for  flowers,  10c. 

22.  Bought  paper  napkins,  5c  ;  paper  cups,  5c  ;  paper  plates,  5c. 

September,  19 — . 

1.    Received  monthly  allowance  from  mother,  50c. 
10.   Bought  writing  tablet,  5c  ;  box  paints,  10c. 

15.  Bought  book  strap,  10c. 

18.  Bought  candy,  10c. 

23.  Bought  picture  card  for  bedroom,  10c. 
30.   Balance  the  account.     (Balance,  58c.) 

October,  19—. 

1.   Transfer  balance  below  the  rulings. 

1.   Received  monthly  allowance  from  mother,  50c. 

4.  Bought  pin  cushion,  10c. 

10.   Bought  brush  and  comb  tray,  25c. 

16.  Bought  4  skeins  floss,  10c. 

November,  19 — . 

1.   Received  monthly  allowance  from  mother,  50c. 

7.   Bought  I  yard  handkerchief  linen,  20c. 
15.   Bought  pencil  eraser,  5c. 
26.   Bought  tooth  brush,  15c. 

December,  19 — . 

1.   Received  monthly  allowance  from  mother,  50c. 

5.  Bought  to  use  in  making  Christmas  presents,  yard  fancy  ribbon, 
10c  ;  bolt  baby  ribbon,  10c  ;  ball  crochet  cotton,  15c. 


THE  CASH  ACCOUNT  13 

December,  19 — . 

10.   Received  of  Uncle  Manson,  $1. 

15.  Bought  doll  for  sister  for  Christmas,  35c  ;  present  for  cousin 
Mattie,  25c  ;  Christmas  cards,  10c. 

31.   Balance  the  account.     (Balance,  $1.18.) 

EXERCISE    7 

A  Carpenter's  Cash  Account 
April,  19—. 

1.   Amount  on  hand,  $35.20. 
4.   Bought  saw,  $1.25  ;  hammer,  75c. 
9.   Paid  house  rent  for  month  ending  May  8,  $12.50. 
12.   Bought  pair  shoes  for  myself,  $2.25. 

16.  Bought  chisel,  60c. 

18.  Received  of  John  Killion  for  roofing  house,  6f  days,  $23.50. 

24.  Bought  lumber  for  tool  chest,  $3.60  ;  locks,  hinges,  handles,  etc., 
$1.30. 

25.  Paid  for  insurance  on  household  goods  for  3  years,  $2.35. 

26.  Bought  hat  for  Willie,  60c. 

30.  Paid  during  month  for  meat  and  groceries,  $16.40. 

May,  19—. 

1.   Received  of  A.  S.  Colvin  for  repairing  his  porch,  2  days,  $7.50. 

4.   Bought  plane  stock  and  two  bits,  $2.75  ;  brace,  $1.75  ;  5  bits 
for  brace,  $1. 

6.   Received  of  W.  S.  Manley  for  putting  curb  on  cistern,  $2.50. 

9.   Paid  house  rent  for  month  ending  June  8,  $12.50. 

10.  Bought  6  chairs  at  75c  each. 

11.  Received  of  R.  W.  Kelley  for  week's  work  on  house  at  227  Blair 
Avenue,  $21. 

14.   Paid  water  rent  for  April,  May,  and  June,  $2. 

18.  Received  of  R.  W.  Kelley  for  5  days'  work  on  house  at  227  Blair 
Avenue,  $17.50. 

20.   Paid  life  insurance  premium,  $22.38. 

23.   Bought  pair  overalls,  $1.25. 

25.  Received  of  R.  W.  Kelley  for  4  days'  work  on  house  at  227  Blair 
Avenue  and  2  days'  work  on  barn  at  930  Garfield  Avenue,  $21. 

27.  Received  of  M.  A.  King  for  interest  for  6  months  ending  to-day 
on  note  dated  May  27,  191- ,  $9.60. 

31.  Paid  during  month  for  meat  and  groceries,  $18.95. 
31.   Balance  the  account. 


14  EVERYDAY  BOOKKEEPING 

EXERCISE   8 

A  Laborer's  Cash  Account 
June,  19 — . 

1.   Amoiuit  on  hand,  $20.15. 

4.    Paid  gas  bill  for  May,  $1.75. 

6.   Received  of  J.  W.  Coleman  for  4  days'  work  with  team  excavating 
cellar  at  1512  Euclid  Avenue,  $13. 

9.    Paid  for  shoeing  horse,  40c. 

10.  Bought  for  horses  and  cow  3  bales  hay,  at  35c. 

13.  Received  of  J.  W.  Coleman  for  4  days'  work  with  team,  grading 
lot  at  720  N.  12th  Street,  and  2  days'  excavating  cellar  at  940  Benson 
Avenue,  $19.50. 

15.    Bought  shingles  for  roofing  porch,  $5.25. 

20.  Received  of  W.  L.  Bailey  for  6  days'  work  with  team,  hauling 
brick,  $19.50. 

23.   Paid  L.  E.  Riveley  for  roofing  porch,  $2.75. 

25.   Bought  bridle,  $1.40. 

27.  Received  of  W.  L.  Bailey  for  2  days'  work  with  team  hauling 
brick,  at  $3.25  ;  4  days'  work  tending  mason,  at  $1.50. 

30.  Sold  during  month  to  neighbors,  garden  vegetables,  $2.10  ;  milk, 
$1.45. 

30.  Paid  during  month  for  groceries,  $8.30. 

July,  19—. 

3.  Received  of  L.  L.  Hart  for  hauling  lumber,  6  days  at  $3.25. 

4.  Spent  at  picnic,  90c. 

6.   Paid  gas  bill  for  June,  $1.50. 

11.  Received  of  L.  L.  Hart  for  hauling  lumber,  6  days  at  $3.25. 

14.  Bought  cement  and  sand  for  walk,  $2.80. 

15.  Bought  corn  and  chop,  $3.60. 

17.  Received  of  Archey  Colvin  for  one  month's  board,  $15. 

18.  Received  of  L.  L.  Hart  for  hauling  lumber,  2§  days  at  $3.25;  of 
S.  M.   Harsley  for  grading  lot,  3  days  at  $3.25. 

20.  Bought  clothing  material  for  wife  and  children,  $10.30. 

22.  Received  of  L.  C.  Scott  for  hauling  sand,  2  days  at  $3.25. 

31.  Sold  to  neighbors  during  month,  garden  vegetables,  $6.20  ;  milk, 
$1.95. 

31.   Paid  during  month  for  groceries,  $12.15. 
31.   Balance  the  account. 


THE  CASH  ACCOUNT  15 

ANOTHER   PLAN   FOR   KEEPING   AN   ACCOUNT 

Instead  of  using  one  page  in  making  a  record  of  trans- 
actions, two  pages  may  be  used,  putting  the  debits  on  the 
left-hand  page  and  the  credits  on  the  right-hand  page.  In 
this  method,  when  the  account  is  balanced,  the  footings  are 
placed  on  the  same  blue  line  on  the  opposite  pages.  This 
plan  is  illustrated  on  the  next  page,  using  the  cash  ac- 
count of  page  5.  It  is  recommended  that  the  pupil  write 
a  few  exercises  after  this  model. 

If  the  column  for  explanations  is  narrow  and  there  are 
several  items  in  a  transaction,  the  arrangement  used  in  the 
account  on  page  27  is  the  more  convenient.  If  the  column 
is  very  narrow,  the  amount  for  each  item  may  be  put  in  the 
money  column  instead  of  putting  the  total  for  the  group  in 
this  column.  But  if  the  column  for  the  explanations  is 
wide,  the  plan  used  for  February  5  in  the  cash  account  on 
page  5  gives  the  more  economical  use  of  the  space. 

Use  of  Capitals.  In  the  illustrations  in  this  book  the 
names  of  articles  are  capitalized  when  they  are  listed  in 
tabular  form.  But  usage  on  this  point  is  not  uniform. 
[See  page  27.] 

Fractions.  A  fraction  of  a  cent  should  never  appear  in 
the  money  columns.  If  the  fraction  is  one-half  cent  or 
more,  call  it  one  cent;  if  it  is  less  than  one-half  cent,  drop  it. 

EXERCISE    9 

A  Cash  Account  for  Basket  Ball  Team 

Suggestion.  This  and  the  following  exercises  on  the  cash 
account  may  be  written  as  shown  in  the  model  on  page  16. 

November,  19 — . 

13.   Receipts  of  game  with  Kansas  City  University,  $10.35. 
24.   Receipts  of  game  with  Rosedale  High  School,  $8.95. 
24.   Paid  expenses  of  game  with  Rosedale  High  School,  80c. 


16 


EVERYDAY  BOOKKEEPING 


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THE  CASH  ACCOUNT  17 

December,  19 — . 

3.  Received  for  season  tickets,  $35. 

4.  Received  of  Central  High  School  team  our  share  of  receipts  of 
game  there,  $14.13. 

8.   Received  for  season  tickets,  $25. 

8.   Paid  for  knee  guards,  $2  ;  car  fare,  15c. 

10.  Paid  A.  G.  Spalding  and  Bros,  per  bill  of  November  29,  $17.25 ; 
bill  of  December  2,  $4. 

11.  Received  our  share  of  door  receipts  of  game  played  with  Manual 
Training  High  School,  $7.50. 

14.   Paid  A.  G.  Spalding  and  Bros,  per  bill  of  December  11,  $1.75. 
23.   Received  our  share  door  receipts  of  game  with  West  port  High 
School,  $11. 

23.   Paid  car  fares  and  refunds,  $4.75. 

January,  19 — . 

7.   Received  one-half  of  net  proceeds  of  game  with  Central  High 
School,  $6.85. 

7.   Paid  for  300  membership  tickets,  $1.50. 

19.   Paid  Baker  and  Lockwood  Mfg.  Co.  for  five  lengths  4-tier  circus 
seats  for  gymnasium,  $36.75. 

21.   Received  one-half  net  proceeds  of  game  with  Manual  Training 
High  School,  $4. 

26.   Paid  expenses  of  team  to  Leavenworth,  Kan.,  $6. 

29.   Door  receipts  of  game  with  Topeka,  Kan.,  High  School  in  our 
gymnasium,  $12.75. 

29.   Paid  for  referee  of  game  with  Topeka  High  School,  $5. 

29.   Paid  railroad  fare  of  Topeka  High  School  team,  $18.70. 

February,  19 — . 

5.  Door  receipts  of  game  with  Westport  High  School,  $32.50. 

5.   Paid  expenses  of  officials  of  game  with  Westport  High  School, 
$10. 

5.   Paid  Westport  High  School  team  one-half  net  proceeds,  $11.25. 
14.   Received  of  Central  High  School  team  one-half  of  net  proceeds 
of  game  with  them,  $4.51. 

26.   Received  our  share  of  net  receipts  of  game  with  Manual  Train- 
mg  High  School,  $12. 

28.   Paid  expenses  of  team  to  Topeka,  Kan.,  $4.50. 
c 


18  EVERYDAY  BOOKKEEPING 

March,  19 — . 

1.  Paid  W.  C.  Landson,  Lawrence,  Kan.,  entrance  fees  for  Basket 
Ball  tournament,  $2. 

4.  Received  our  share  net  proceeds  of  game  with  Westport  High 
School,  $1. 

5.  Received  our  share  net  proceeds  of  game  with  Leavenworth, 
Kan.,  High  School,  $5. 

10.   Paid  E.  K.  Kendrick  for  expenses  of  team  attending  tournament 
at  Lawrence,  Kan.,  $40. 

14.  Received  of  E.  K.  Kendrick  unused  balance  of  cash  advanced 
him  March  10,  $11. 

24.   Paid  manager  of  team  for  outlay  for  basket  ball  laces,  whistle, 
etc.,  $1.40. 

24.   This  being  the  end  of  the  season,  the  account  may  be  balanced. 

EXERCISE    10 

A  Cash  Account  for  Baseball  Team 
April,  19—. 

3.   Received  for  sale  of  season  tickets,  $36.75. 

3.  Gate  receipts  of  game  with  Westport  High  School,  played  at 
Chelsea  Park,  $7.50. 

3.  Paid  expenses  of  game  with  Westport  High  School  :  Rent  of 
Park,  $5 ;  umpire,  $2.50 ;  ball  shag,  50c ;  water  boy,  25c ;  peroxide, 
25c. 

13.   Gate  receipts  of  game  with  Central  High  School,   played  at 
Chelsea  Park,  $5.25. 

13.    Paid  expenses  of  game  with  Central  High  School  :     Rent  of 
grounds,  $5  ;  umpire,  $2.50  ;  water  boy,  25c  ;  ball  shag,  50c. 

15.  Paid  A.  G.  Spalding  and  Bros,  for  ball  and  bat,  $2.25. 

16.  Gave   A.   McDonald   for  expenses  of  team  to  Lexington,  Mo., 
$20. 

17.  Receipts  of  game  with  Wentworth  Military  Academy,  $18.40. 
20.   Receipts  of  game  with  Leavenworth  High  School,  at  Chelsea. 

Park,  $1. 

20.    Paid  expenses  of  game  with  Leavenworth  High  School  :     Ball 
shag,  25c  ;  water  boy,  25c  ;  rent  of  grounds,  $5  ;  umpire,  $2.50. 

27.  Receipts  of  game  with  Manual  Training  High  School,  $4.50. 

28.  Paid  expenses  of  game  with  Manual  Training  High  School  : 
Umpire,  $2.50  ;  shag,  50c  ;  water  boy,  25c  ;  bat,  $1  ;  rent  of  grounds,  $5.. 


THE  CASH  ACCOUNT  19 

May,  19—. 

5.   Receipts  of  game  with  Central  High  School,  $1. 
5.   Paid  for  baseball,  $1. 
18.   Paid  expenses  of  team  to  Leavenworth,  Kan.,  $8.40. 

26.  Received  from  profits  of  excursion  to  Parkville,  Mo.,  $42.50. 

28.  Paid  James  Bresnahan  for  balls,  $2.50. 

30.   Paid  R.  W.  Van  Peyma  for  mitt,  balls,  etc.,  per  bill,  $46.90. 
30.   Balance  the  account. 

EXERCISE    11 

A  Farmer's  Cash  Account 
May,  19—. 

1.  Cash  on  hand  and  in  bank,  $780.60. 

3.  Bought  8  steers  at  $16. 

5.  Paid  grocery  bill,  $8.90. 

12.  Sold  30  lb.  butter  at  28c  ;  18  doz.  eggs  at  22c. 

16.  Bought  coat  for  Hiram,  $2  ;  hat  for  Jennie,  $1.25. 

25.  Paid  insurance  for  six  months,  $12.50. 

29.  Paid  for  shoeing  horses,  $2.50. 

June,  19 — . 

4.  Paid  on  piano  bought  of  Jenkins'  Sons  Music  Co.,  $100. 
7.   Paid  farm  help  to  date,  $35. 

11.  Paid  blacksmith's  bill,  $18.40. 

12.  Paid  note  of  March  14,  $210,  and  interest  for  90  days  at  6%. 
18.  Received  of  F.  C.  Landers  for  amount  due  on  account,  $39. 
20.  Paid  for  dress  goods,  etc.,  $9.80. 

25.   Paid  annual  subscription  to  Benevolent  Society,  $5. 

27.  Sold  20  bu.  corn  at  63c  ;  80  bu.  wheat  at  90c  ;  12  hogs,  weigh- 
ing 2980  lb.,  at  5^g. 

July,  19—. 

2.  Paid  for  repairing  buggy,  $2.75. 

6.  Received  of  St.  James  Hotel  in  part  payment  of  butter,  eggs, 
and  chickens  delivered,  $5. 

10.  Received  of  St.  James  Hotel  on  account,  $20. 

14.  Sold  25  chickens  at  25c  ;  15  ducks  at  30c  ;  9  doz.  eggs  at  20c. 

15.  Paid  for  groceries,  $12.35. 

16.  Paid  farm  hands  to  date,  $38. 
20.  Sold  a  dressed  hog,  215  lb.,  at  6c. 


20  EVERYDAY  BOOKKEEPING 

July,  19—. 

25.  Received  of  St.  James  Hotel  in  part  payment  for  butter,  eggs, 
and  chickens  delivered  to  them  to-day,  $10. 

30.  Received  of  St.  James  Hotel  to  apply  on  account,  $15. 

31.  Balance  the  cash-book. 

August,  19 — . 

1.  Bring  down  the  cash  balance. 

3.  Paid  subscription  to  Girard  Press,  $1.50. 

4.  Sold  John  Wilson  7  tons  hay  at  $12. 

6.    Paid  J.  C.  King  for  shoeing  horses,  $2.50. 

8.  Sold  15  lb.  butter  at  21c  ;  25  doz.  eggs  at  20c  ;  3  doz.  chickens 
at  $3  per  dozen. 

10.  Paid  for  groceries,  $11.80. 

12.  Paid  for  taxes  on  farm  and  personal  property,  $60. 

15.  Sold  300  bu.  wheat  at  60c  ;  400  bu.  oats  at  20c. 

17.  Received  for  pasture,  $75. 

20.  Paid  farm  hands  to  date,  $42. 
22.   Paid  dentist's  bill,  $6.50. 

27.   Paid  to  J.  R.  Britton  for  repairs  on  wagon,  $5.50. 

September,  19 — . 

2.  Sold  15  tons  hay  at  $13. 

2.   Paid  note  of  June  4  last,  favor  Jenkins'  Sons  Music  Co.,  $120  ; 
interest  on  same,  $1.80. 

9.  Sold  80  bu.  potatoes  at  50c ;  30  bu.  apples  at  25c. 
10.    Bought  school  books  for  children,  $8.20. 

12.    Bought  dry  goods  for  family  use,  $28. 

18.  Paid  for  threshing  grain,  1200  bu.  wheat  at  4c,  1600  bu.  oats  at  3c. 

21.  Paid  for  insurance  on  farm  buildings,  $10.25. 

26.  Sold  D.  M.  Wiley  140  bu.  potatoes  at  50c  ;  60  bu.  apples  at  25c. 

October,  19—. 

4.   Received  for  poultry  sent  to  market,  $7. 

9.   Paid  Charles  McBride  for  repairs  on  barn,  $20. 

10.  Received  of  St.  James  Hotel  on  account,  $20. 

11.  Sold  5  tons  hay  at  $14. 

14.  Paid  hired  hands  to  date,  $35. 

15.  Received  of  William  Smith  for  pasture,  $60. 

19.  Sold  2  hogs  for  $18  and  one  calf  for  $3. 
21.  Paid  for  groceries,  $5.30. 


THE  CASH  ACCOUNT  21 

October,  19—. 

22.  Sold  T.  F.  Brisbon  13  tons  hay  at  $12  a  ton  and  received  in  part 
payment,  $50. 

24.  Paid  Jonas  Clark  to  apply  on  account,  $58. 

25.  Bought  flour  for  family  use,  $15. 

26.  Sold  200  bu.  wheat  at  82c  ;  250  bu.  corn  at  60c ;    50  bu.  pota- 
toes at  50c  ;  45  bu.  apples  at  45c. 

31.   Sold  during  the  month  poultry,  butter,   and  eggs  amounting 
to  $25.40. 

31.   Balance  the  cash-book. 

EXERCISE    12 

A  Teacher's  Cash  Account 
September,  19 — . 

1.   Amount  on  hand,  $42.65. 

5.  Paid  railroad  fare,  $2.40. 

6.  Paid  drayage  on  trunk,  50c. 
6.    Bought  stationery,  60c. 

10.   Bought  pair  shoes,  $3. 
18.   Bought  arithmetic,  80c. 
24.   Bought  handkerchiefs,  50c. 

October,  19—. 

4.   Paid  board  for  4  weeks,  $16. 
9.   Drew  salary  for  month  ending  October  3,  $60. 
10.    Deposited  in  Savings  Bank,  $50.    [Enter  this  as  a  memorandum  ; 
that  is,  do  not  extend  the  amount  into  the  money  column,  unless  you 
are  keeping  an  account  with  the  Savings  Bank  aside  from  the  Pass  Book. J 
18.   Set  aside  for  benevolences,  $2. 

23.  Bought  ticket  for  lecture  course,  $1.25. 
31.   Paid  expenses  at  social,  60c. 

November,  19 — . 

1.   Paid  board  for  4  weeks,  $16. 

6.  Drew  salary  for  month  ending  October  31,  $60. 

7.  Bought  wearing  apparel,  $8.60. 
7.   Deposited  in  Savings  Bank,  $25. 

15.   Set  aside  for  club  dues,  $2. 

21.   Paid  expenses  attending  State  Teachers'  Association,  $7.60. 

29.   Paid  board  for  4  weeks,  $16. 


22  EVERYDAY  BOOKKEEPING 

December,  19 — . 

1.   Received  of  J.  W.  Monroe  6  months'  interest  due  to-day  on  loan, 
$9.20. 

4.  Drew  salary  for  month  ending  November  28,  $60. 

5.  Deposited  in  Savings  Bank,  $40. 
20.    Paid  board  for  3  weeks,  $12. 

20.  Bought  Christmas  presents,  $2.80. 

21.  Donated  for  Christmas  present  to  janitor,  50c. 

22.  Renewed  subscriptions  to  periodicals,  $4.50. 

23.  Paid  for  postage  stamps,  75c. 

31.  Balance  the  account.  [As  the  amounts  deposited  in  the  Savings 
Bank  were  not  extended  into  the  money  column,  the  balance  here  will 
include  those  amounts.  1 

January,  19 — . 

1.  Bring  the  balance  down. 

2.  Received  interest  on  deposits  in  Savings  Bank,  31c. 

3.  Paid  holiday  expenses,  $5.90. 

3.  Paid  for  professional  journal,  $2. 

15.  Drew  salary  for  month  ending  January  9,  $60. 

15.  Deposited  in  Savings  Bank,  $40. 

27.  Bought  clothing,  $10.90. 

31.   Paid  board  for  4  weeks,  $16. 

February,  19—. 

10.   Paid  for  charity,  $1. 

12.  Drew  salary  for  month  ending  February  6,  $60. 

13.  Deposited  in  Savings  Bank,  $30, 

21.   Paid  expenses  at  County  Teachers'  Association,  $1.90. 

28.  Paid  board  for  4  weeks,  $16. 
28.   Paid  for  fountain  pen,  $2. 

March,  19—. 

5.   Bought  set  drawing  instruments,  $1.75. 

12.  Drew  salary  for  month  ending  March  6,  $60. 

13.  Deposited  in  Savings  Bank,  $40. 

18.   Paid  for  stationery  and  stamps,  $1.25. 
28.   Paid  board  for  4  weeks,  $16. 
31.   Balance  the  account. 


THE  CASH  ACCOUNT  23 

April,  19—. 

1.  Bring  balance  down, 

4.  Set  aside  for  benevolences,  $2. 

9.  Drew  salary  for  month  ending  April  3,  $60. 

9.  Deposited  in  Savings  Bank,  $40. 

10.  Paid  expenses  at  social,  40c. 

22.  Bought  book  on  Methods  of  Teaching,  $1.25. 
25.  Paid  board  for  4  weeks,  $16. 

May,  19—. 

2.  Paid  for  pleasure  trip,  $2. 

7.  Drew  salary  for  month  ending  May  1,  $60. 

8.  Deposited  in  Savings  Banlc,  $40. 

16.  Paid  expenses  at  County  Teachers'  Association,  $2.10. 

20.  Bought  hat,  $3.25. 

23.  Paid  board  for  4  weeks,  $16. 

29.  Drew  salary  for  month  ending  to-day,  $60. 

30.  Paid  board  for  one  week,  $4. 

30.  Paid  railroad  fare,  $2.40  ;  drayage  on  trunk,  50c. 

June,  19 — . 

1.   Received  of  J.  W.  Monroe  to  apply  on  loan,  $50  ;  and  for  six 

months'  interest  due  to-day,  $9.60. 

10.    Drew  from  Savings  Bank,  $75.     [Memorandum.] 

10.   Loaned  R.  C.  Bowser  on  note  for  one  year  at  6%,  interest  payable 

semi-annually,  $100. 

31.  Balance  the  account. 

SUGGESTIONS   ABOUT   KEEPING   ACCOUNTS 

To  Teachers.  1.  Have  pupils  write  other  cash  accounts, 
making  up  imaginary  transactions. 

2.  Have  each  pupil  keep  an  account  of  his  own  cash  trans- 
actions for  at  least  four  weeks,  and  hand  it  in  for  inspec- 
tion as  often  as  may  be  desired.  Let  the  accounts  be 
balanced  at  the  end  of  each  week,  and  the  balance  compared 
with  the  money  on  hand.  The  pupil  should  be  asked  to  state 
whether   these   agree.      Or  this  work  may  extend  over  a 


24 


EVERYDAY  BOOKKEEPING 


longer  period  of  time  and  the  accounts  be  balanced  once  a 
month.  For  this  purpose  paper  may  be  ruled,  if  no  ruled 
paper  is  at  hand.  The  following  of  this  suggestion  will  be 
good  practice  for  the  pupil  even  though  he  may  receive  only 


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car  fare  from  his  parents  or  a  few  cents  at  a  time  for  spend- 
ing money. 

To  Pupils.  Good  habits  formed  early  and  persistently 
followed  are  of  great  value.  One  good  habit  is  to  keep  an 
account  of  one's  business  transactions.  It  is  recommended 
that  the  pupil  begin  this  now.     Probably  cash  is  the  only 


THE  CASH  ACCOUNT 


25 


item  that  there  will  be  occasion  to  keep  an  account  with 
during  one's  school  days.  This  can  be  commenced  as  soon 
as  Chapter  I  is  completed.  A  book  about  four  to  five  inches 
wide  and  six  to  eight  inches  long  is  quite  convenient.  A  book 
with  a  single  money  column  may  be  made  to  answer  the  pur- 
pose by  using  the  column  for  dollars  for  the  debits,  and  the 
column  for  cents  for  the  credits.  The  cash  account  on  page 
5,  if  put  in  a  book  of  this  kind,  would  appear  as  given  in  the 
illustration  below. 


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CHAPTER  II 

PERSONAL  ACCOUNTS 

Personal  accounts  are  accounts  with  individual  persons, 
firms,  and  corporations.     (For  illustration,  see  opposite  page.) 

Rule  for  Debiting  and  Crediting  Persons 

Debit    ]  \  receives  ] 

\  a  person  when  he  i    .  \  value  on  account. 

Credit  J  [gives  up} 

To  buy  or  sell  "  on  account  '^  means  that  payment  is  to 

be  made  at  some  future  time. 

Exercises  for  Practice 

Instruction.  Write  up  the  following  transactions,  and 
balance  the  accounts  as  indicated.  The  frequent  balancing 
is  for  practice.  In  making  records  of  actual  transactions, 
the  accounts  need  be  balanced  only  at  such  times  as  may 
seem  advisable. 

exercise  1 

Pupil's  Account  with  Samuel  Wilson 
August,  19—. 

3.  Bought  of  him  8  yd.  calico  at  6|c  ;  5  yd.  gingham  at  12ic  ; 
2  spools  thread  at  5c. 

6.  Bought  of  him  20  lb.  sugar  at  8c  ;  2  lb.  cheese  at  20c  ;  3  lb. 
dried  beef  at  40c. 

10.   Sold  him  5  lb.  butter  at  23c  ;  2  bu.  potatoes  at  35c. 
20.   Sold  him  3  bu.  potatoes  at  40c  ;  4  bu.  apples  at  50c. 
25.   Bought  of  him  1  lb.  coffee,  25c  ;  2  lb.  rice  at  8|c. 
27.   Sold  him  8  chickens  at  20c. 
31.   Balance  the  account. 

26 


PERSONAL  ACCOUNTS 


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28  EVERYDAY  BOOKKEEPING 

September,  19 — . 

1.   Bring  down  the  balance. 

4.   Sold  him  3  bu.  apples  at  40c  ;  2^  bu.  potatoes  at  50c. 
7.    Bought  of  him  1  gal.  syrup,  40c  ;  15  lb.  sugar  at  8c  ;  1  sack 
flour,  $1.80. 

15.   Bought  of  him  2  yd.  ribbon  at  7c  ;  1  pair  slippers,  $1.25. 
21.    Sold  him  14  doz.  eggs  at  19c. 

24.  Sold  him  3  lb.  butter  at  24c  ;  2  bu.  potatoes  at  50c  ;  3  bu.  apples 
at  40c. 

27.  Bought  of  him  pair  shoes,  $2.50  ;  hat,  $1.75. 

28.  The  account  is  settled  by  one  paying  the  other  cash.  Make 
the  proper  entry.     Foot  and  rule  the  account. 

EXERCISE    2 

James  Hopkins  is  a  farmer  and  William  Braley  a  black- 
smith. Think  of  yourself  as  Mr.  Hopkins  and  write  up, 
from  the  following  memoranda,  his  account  with  William 
Braley : 

April,  19—. 

4.  William  Braley  made  repairs  on  wagon,  $2.75. 

7.  Shoeing  Ned  and  Doll,  $2.40. 

10.   Sold  him  2  lb.  butter  at  20c  ;  U  doz.  eggs  at  15c. 

14.  Bought  pair  trace  chains,  90c. 

18.    Bought  8  new  teeth  for  harrow,  $1. 
18.   Sold  him  3  bu.  potatoes  at  80c. 

25.  Paid  him  cash,  $3.50. 

30.   Balance  the  account  and  re-open  it  on  May  1. 

May,  19—. 

1.   Repairs  on  plow,  $1.25. 

5.  Worked  for  him  one-half  day  with  team,  grading  about  shop,  at 
$2.50. 

8.  Hooping  barrel,  $1.50. 

15.  Sharpening  2  plow  shares  at  25c. 
21.    Sold  him  2  lb.  butter  at  20c. 

25.    Sharpening  cultivator  shovels,  80c. 

25.  Paid  him  cash  for  balance  due.  After  making  this  entry,  foot  and 
rule  the  account. 


PERSONAL  ACCOUNTS  29 

EXERCISE   3 

Using  the  memoranda  of  Exercise  2,  think  of  yourself  as 
Mr.  Braley  and  write  up  his  account  with  James  Hopkins. 
Make  the  necessary  changes  in  the  wording.  For  April  7 
you  may  say,  "  Shoeing  team  horses/'  or  "  Shoeing  two 
horses.'' 

EXERCISE    4 

John  Cover  and  Hiram  Eastman  are  neighbors  and  help 
each  other  at  times.  From  the  following  data  write  up  each 
one's  account  with  the  other.  Consider  a  day's  work  with 
a  team  worth  S2.50  and  a  day's  work  of  a  person  alone 
worth  $1.25,  except  for  harvesting  and  threshing,  which 
consider  as  worth  $1.50  a  day. 

Endeavor  to  use  a  good  form  of  wording  in  writing  the 
record. 

June,  19 — . 

3.   Carver  helped  Eastman  H  days  with  team,  scraping  out  pond. 

7.  Eastman  helped  Carver  2  days,  building  fence. 
10.   Eastman  sold  Carver  a  2-year-old  steer,  $23. 

14.  Carver  helped  Eastman  2  days  with  team,  cultivating  corn. 

21.  Carver  helped  Eastman  51  days  with  team,  cutting  wheat. 

25.  Eastman  helped  Carver  3  days  with  team,  cutting  wheat. 
28.   Carver  sold  Eastman  2  hogs,  the  two  weighing  435  lb.,  at  5c. 

July,  19—. 

8.  Carver  helped  Eastman  2  days  with  team,  stacking  wheat. 
12.   Eastman  helped  Carver  2|  days  with  team,  stacking  wheat. 

15.  Eastman  helped  Carver  1  day,  digging  potatoes. 

August,  19 — . 

15.   Carver  helped  Eastman  11  days,  threshing  wheat. 

22.  Eastman  helped  Carver  2  days,  threshing  wheat. 

23.  Eastman  sold  Carver  a  calf  for  $6. 

26.  The  one  owing  the  other  paid  the  balance  in  cash.  After  making 
the  entry,  foot  and  rule  the  account. 


30  EVERYDAY  BOOKKEEPING 

EXERCISE    5 

Pupil's  Account  with  Charles  Baldwin 

October,  19—. 

1.  Sold  him  10  lb.  maple  sugar  at  15c. 

3.  Bought  of  him  3  bu.  wheat  at  80c. 

5.  Worked  for  him  3  days  at  $2. 

8.  Sold  him  4  bu.  apples  at  50c. 

10.  Bought  of  him  one  cow,  $35. 

12.  Sold  him  2  bu.  oats  at  45c. 

13.  Sold  him  8  chickens  at  30c  ;  2  calves  at  $6. 

14.  Bought  3  gal.  syrup  at  75c. 

20.  Sold  him  2  bu.  corn  at  65c. 

21.  Received  of  him,  cash  $5.00. 

25.  Bought  18  gal.  molasses  at  25c. 

27.  Bought  of  him  2  gal.  syrup  at  75c. 

26.  Sold  him  team  of  horses,  $200. 
29.  Received  cash  for  balance  due. 
29.  Foot  and  rule  the  account. 

EXERCISE   6 

Pupil's  Account  with  J.  H.  Stewart 
July,  19—. 

1.  Sold  him  10  bu.  apples  at  25c. 

2.  Bought  of  him  20  lb.  sugar  at  5c  ;  5  cans  tomatoes  at  10c. 

3.  Sold  him  6  doz.  eggs  at  15c. 

5.  Sold  him  3  crates  blackberries  at  90c. 

8.  Sold  him  2  bu.  peaches  at  90c. 

18.  Bought  sundry  items  of  merchandise  per  bill,  $10. 

19.  Paid  him  cash  on  account,  $3.10. 

20.  Sold  him  2  doz.  chickens  at  20c  each. 

20.  Bought  30  lb.  sugar  at  5c. 

21.  Bought  3  lb.  tea  at  75c  ;  5  lb.  coffee  at  25c. 

23.   Sold  him  5  bu.  apples  at  20c  ;  10  bu.  potatoes  at  80c. 

27.  Bought  of  him  15  lb.  sugar  at  5c. 

28.  Bought  sundry  items  of  merchandise,  $3.60. 

28.  Received  of  him  cash,  $1.25. 

31.   Determine  the  balance  due,  and  balance  the  account.    Which  one 
owes  the  balance  ? 


PERSONAL  ACCOUNTS  31 

EXERCISE   7 

Pupil's  Account  with  W.  S.  Duff 
May,  19—. 

23.  Delivered  to  him  2  crates  strawberries  at  $2.40. 

25.  Delivered  to  him  3  crates  strawberries  at  $2.40. 

27.  Delivered  to  him  3  crates  strawberries  at  $2.25. 

30.  Delivered  to  him  4  crates  strawberries  at  $2.40. 

30.  Received  of  him  cash,  $25. 

June,  19 — . 

1.  Delivered  to  him  2  crates  strawberries  at  $2.25  ;  10  lb.  lettuce 
at  15c  ;  20  bunches  radishes  at  2ic. 

3.   Delivered  to  him  3  crates  strawberries  at  $2.20  ;  10  lb.  lettuce  at 
15c  ;  15  bunches  radishes  at  2ic  ;  10  bunches  onions  at  2ic. 
•     3.   Bought  of  him  10  lb.  sugar  at  7c  ;  2  lb.  coffee  at  30c. 

6.  Delivered  to  him  2  crates  strawberries  at  $2.30  ;  20  lb.  lettuce 
at  15c  ;  25  bunches  radishes  at  2ic  ;  20  bunches  onions  at  2ic  ;  10 
bunches  asparagus  at  4c. 

6.   Received  of  him  cash,  $25. 

8.  Delivered  to  him  10  lb.  lettuce  at  15c  ;  12  bunches  radishes  at 
2|c  ;  20  bunches  asparagus  at  4c. 

8.  Allowed  him  credit  for  faulty  strawberries  delivered  the  6th, 
75c. 

10.  Delivered  to  him  2  crates  strawberries  at  $2  ;  10  lb.  lettuce  at 
15c  ;  10  bunches  radishes  at  2|c  ;  10  bunches  onions  at  2|c  ;  10 
bunches  asparagus  at  4c. 

10.  Bought  of  him  1  lb.  tea,  60c  ;  2  lb.  cheese  at  20c  ;  1  gal.  kerosene, 
10c. 

13.  Delivered  to  him  2  crates  strawberries  at  $1.90  ;  20  lb.  lettuce 
at  15c  ;  25  bunches  radishec  at  2^c  ;  20  bunches  onions  at  2§c;  15 
bunches  asparagus  at  4c. 

13.    Received  of  him  cash,  $15. 

16.  Delivered  to  him  10  lb.  lettuce  at  15c  ;  10  bunches  onions  at 
2^c  ;  15  bunches  asparagus  at  4c. 

20.    Delivered   to   him   20   bunches   radishes   at   2|c  ;   20   bunches 
onions  at  2§c  ;  20  bunches  asparagus  at  4c. 
20.   Received  of  him  cash,  $5. 

23.  Delivered  to  him  15  lb.  lettuce  at  15c  ;  10  bunches  radishes  at 
2§c  ;  20  bunches  asparagus  at  4c. 


32  EVERYDAY  BOOKKEEPING 

June,  19 — . 

27.  Delivered  to  him  10  lb.  lettuce  at  15c  ;  15  bunches  radishes  at 
2^c  ;  12  bunches  onions  at  2|c  ;  10  bunches  asparagus  at  4c. 

27.  Received  of  him  cash,  $5. 

30.  Delivered  to  him  10  lb.  lettuce  at  15c  ;  8  bimches  radishes  at 
2|c  ;  10  bunches  onions  at  2§c. 

30.  Balance  the  account. 

July,  19—. 

1.   Bring  down  the  balance. 

4.   Delivered  to  him  10  watermelons  at  15c  ;  8  lb.  lettuce  at  15c  ; 
10  bimches  onions  at  2f  c. 

4.  Received  of  him  cash,  $5. 

7.   Delivered  to  him  10  watermelons  at  20o  ;  1  bu.  potatoes,  50c  ; 

2  doz.  ears  corn  at  6c  per  dozen. 

7.   Bought  of  him  15  lb.  sugar  at  7c. 
11.   Delivered  to  him  15  watermelons  at  15c  ;  2  bu.  potatoes  at  50c  ; 

3  doz.  ears  corn  at  6c  per  dozen  ;  2  doz.  cantaloupes  at  35c  per  dozen. 

14.  Delivered  to  him  12  watermelons  at  15c  ;  20  cantaloupes  at  3c  ; 
2  crates  blackberries  at  $2.40  ;  2  doz.  ears  corn  at  8c  per  dozen. 

18.   Delivered  to  him  3  bu.  potatoes  at  50c  ;  10  qt.  beans  at  8c  ; 

4  doz.  ears  corn  at  8c  per  dozen. 

18.  Bought  of  him  20  lb.  sugar  at  7c  ;  2  lb.  coffee  at  30c  ;  2  doz. 
lemons  at  20c. 

21.  Delivered  to  him  30  cantaloupes  at  3c  ;  3  crates  blackberries  at 
$2.40  ;  15  qt.  beans  at  8c. 

21.   Received  of  him  cash,  $20. 

25.  Delivered  to  him  10  watermelons  at  12c  ;  3  doz.  ears  corn  at 
8c  per  dozen  ;  20  cantaloupes  at  2c  ;  2  crates  of  blackberries  at  $2.25. 

28.  Delivered  to  him  1  crate  blackberries,  $2.25  ;  4  doz.  ears  corn 
at  6c  per  dozen  ;  30  cantaloupes  at  2^c  ;  12  qt.  beans  at  8c. 

31.  Balance  the  account. 

August,  19 — . 

1.   Bring  down  the  balance. 

1.   Delivered  to  him  2  crates  blackberries  at  $2.50  ;  15  watermelons 
at  12^c  ;  5  bu.  potatoes  at  40c  ;  3  doz.  ears  corn  at  5c  per  dozen.  ^^^ 

1.   Bought  of  him  1  lb.  tea,  50c  ;  2  lb.  cheese  at  20c  ;  1  doz.  lemohs,/jfc^ 
25c.  ^ 

5.  Delivered  to  him  2  bu.  peaches  at  $1.20  ;  25  lb.  tomatoes  at 
l§c  ;  12  qt.  beans  at  8c. 


PERSONAL  ACCOUNTS  33 

August,  19 — . 

5.   Received  of  him  cash,  S25. 

8.   DeUvered  to  him  40  lb.  tomatoes  at  2c  ;  20  qt.  beans  at  7^c  ; 
2  bu.  peaches  at  $1.25  ;  1  bu.  apples,  90c. 

15.   Delivered  to  him  30  qt.  beans  at  7|c  ;   50  lb.  tomatoes  at  2c  ; 

1  bu.  peaches,  $1.20. 

15.   Bought  of  him  10  lb.  sugar  at  7c  ;  1  gal.  kerosene,  lie  ;  2  doz. 
fruit  jars  at  $1.25. 

22.   Delivered  to  him  30  lb.  tomatoes  at  l§c  ;  3  lb.  butter  at  22c  ; 

2  bu.  apples  at  65c. 

29.   Delivered  to  him  25  lb.  tomatoes  at  l^c  ;  3  bu.  apples  at  70c  ; 
2  bu.  potatoes  at  50c  ;  12  qt.  beans- at  8c. 

29.   Received  of  him  cash  to  balance  account. 
29.   Foot  and  rule  the  account. 

Suggestion.     Originate  the  items  and  write  a  few  ac- 
counts with  persons. 


CHAPTER  III 

PROPERTY  ACCOUNTS 

Property  as  here  used  includes  everything  of  value,  such 
as  land,  houses,  crops,  live-stock,  produce,  implements, 
machinery,  and  merchandise.  These  items  do  not  have  a 
fixed  value.  Hence  they  give  rise  to  losses  and  profits. 
Property  includes  also  those  things  that  represent  value, 
such  as  money  checks,  bank  drafts,  money  orders,  notes, 
stocks,  and  bonds.  A  part  of  these,  as  money,  checks,  bank 
drafts,  and  money  orders,  are  grouped  under  cash  and  were 
considered  in  Chapter  I.  These  items,  as  well  as  notes 
which  will  be  considered  in  Chapter  IV,  have  a  fixed  value. 
Thus  we  see  there  are  two  kinds  of  property:  (1)  That 
which  may  change  in  value ;  and  (2)  that  which  has  a  fixed 
value.  In  this  chapter  we  shall  consider  those  items  of 
property  that  may  change  in  value.  Property  accounts  are 
accounts  in  which  are  kept  the  records  of  transactions  with 
property. 

Losses  and  Profits.  There  are  two  methods  of  finding 
the  loss  or  the  profit  on  things  bought  and  sold  when  a  part 
remains  unsold.  One  plan  is  to  deduct  the  value  of  that 
unsold  from  the  total  cost.  This  leaves  the  cost  of  the  part 
sold.  Then  the  difference  between  this  and  the  selling 
price  gives  the  loss  or  the  profit  on  the  part  sold.  This 
method  is  sometimes  used  in  making  statements.  It  is  illus- 
trated by  the  example  on  the  next  page. 

34 


PROPERTY  ACCOUNTS  35 


EXAMPLE 

Bought  40  bu.  of  wheat  at  50  cents  and  sold  30  bu.  at  60  cents.    What 
is  the  profit  on  the  amount  sold  ? 


Illustration  of  Method 

Cost  of  40  bu.  wheat  at  50c $20.00 

Deduct  cost  of  10  bu.  unsold  at  50c 5.00 

Cost  of  30  bu.  sold 15.00 

Selling  price  of  SO  bu.  at  QOc 18.00 

Profit  on  30  bu.  sold $  3.00* 


Of  course,  the  profit  in  this  simple  case  may  be  found  by 
an  easier  method.  But  we  are  illustrating  a  satisfactory 
method  for  compUcated  cases. 

The  same  result  may  be  found  also  by  adding  the  cost 
value  of  that  unsold  to  the  amount  sold  and  then  taking  the 
difference  between  this  sum  and  the  total  cost.  This  is  the 
method  used  in  an  account  when  it  is  desired  to  find  the  loss 
or  the  profit.  It  is  illustrated  here,  and  further  in  the 
account  with  twenty  head  of  hogs  on  the  next  page. 

Illustration  of  Second  Method 

Selling  price  of  30  bu.  wheat  at  QOc $18.00 

Add  cost  of  10  bu.  unsold  at  50c 5.00 

Total 23.00 

Deduct  cost  of  40  bu.  {total  bought)  at  50c 20.00 

Profit  on  30  bu.  sold $  3.00 

Rule  for  Debiting  and  Crediting  Property 

Debit  1  \  costs  value. 

\  property  when  it  I 
Credit  J  [  produces  value. 


36  EVERYDAY  BOOKKEEPING 

Illustration  of  Property  Account 


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Remark.  If  the  account  with  the  two  hogs  was  to  be 
continued,  the  estimated  value  would  be  brought  below  the 
rulings  as  illustrated. 


PROPERTY  ACCOUNTS 


37 


EXERCISE    1 

Account  with  a  Refreshment  Stand 

Thomas  had  a  refreshment  stand  on  July  4,  at  which  he 
sold  peanuts,  candy,  pop-corn,  and  lemonade.  Make  a  record 
of  his  expenses  and  sales  in  the  form  of  an  account,  and  deter- 
mine his  profit. 

Expenses : 

1  bu.  peanuts,  $1.25. 

Roasting  peanuts,  25c. 

8  lb.  candy  at  20c  a  pound. 

16  boxes  for  candy,  20c. 

1  pk.  pop-corn,  30c. 

1  cake  maple  sugar,  20c.  # 

3  doz.  lemons  at  30c  a  dozen. 

8  lb.  sugar  at  7c  a  pound. 

Ice,  25c. 


He  sold  all  the  peanuts  at  5c  a  pint. 

He  put  up  the  candy  in  ^-pound  boxes  and  sold  it  all  at  15c  a  box. 

From  the  pop-corn  and  maple  sugar  he  made  40  pop-corn  balls  and 
sold  them  at  2  balls  for  5c. 

With  the  lemons,  sugar,  and  ice  he  made  70  glasses  of  lemonade  and 
sold  it  at  5c  a  glass. 

EXERCISE    2 

Account  with  a  Printing  Press 

Harry's  father  gave  him  a  printing  press  and  outfit  and 
75  cents  for  material.  The  paper  house  gave  Harry  the 
prices  of  plain  material.  He  arranged  these  and  the  prices 
he  would  charge  as  follows: 


Matkrial 

Cost 

Sklling  Price 

Cards 
Envelopes 
Blank  bill-heads 
Letter  paper 

25  cents  per  100 
15  cents  per  100 
20  cents  per  100 
25  cents  per  100 

10  cents  per  dozen 
30  cents  per  100 
35  cents  per  100 
40  cents  per  100 

38  EVERYDAY  BOOKKEEPING 

December,  19 — . 

26.   Bought  200  cards  and  100  envelopes. 

January,  19 — . 

2.  Sold  5  doz.  cards. 

3.  Sold  100  envelopes. 

5.  Bought  200  envelopes  ;  200  bill-heads. 

7.  Sold  100  envelopes. 

10.  Sold  100  bill-heads. 

12.  Sold  2  doz.  cards. 

14.  Sold  4  doz.  cards. 

17.  Bought  3  sheets  cardboard  at  5c  a  sheet,  from  which  were  cut 
9  doz.  good  cards.     Sold  these  at  5c  a  dozen.     (Make  two  entries.) 

19.  Sold  100  envelopes. 

20.  Bought  300  envelopes  ;  200  sheets  letter  paper. 

23.  Sold  5  doz.  cards. 

24.  Bought  200  cards. 

26.   Sold  4  doz.  cards  ;  100  sheets  letter  paper  ;  100  envelopes. 

28.   Sold  5  doz.  cards. 

31.  Determine  the  amount  of  material  on  hand  and  find  its  value 
at  the  cost  price,  being  careful  not  to  include  the  cards  sold  from  the 
special  purchase.  Enter  this  in  the  account,  using  for  explanation, 
"  Value  of  material  on  hand."  Then  determine  the  profit  for  the  month, 
and  foot  and  rule  the  account. 

Remark.  If  the  record  was  to  be  continued,  the  "  Value 
of  material  on  hand  "  would  be  entered  below  the  rulings  on 
February  1. 

EXERCISE    3 

Account  with  Hotbed  Plants 
March,  19 — . 

20.   Bought  seed,  70c. 

May,  19—. 

10.   Bought  1  pk.  sweet  potatoes,  50c. 

18.  Sold  7  doz.  tomato  plants  at  15c  a  dozen. 
20.   Sold  5  doz.  cabbage  plants  at  20c  a  dozen. 

25.  Sold  4  doz.  tomato  plants  at  15c  a  dozen. 


PROPERTY  ACCOUNTS  39 

June,  19 — . 

3.   Sold  6  doz.  sweet  potato  plants  at  25c  a  dozen. 
12.   Sold  8  doz.  cabbage  plants  at  15c  a  dozen ;  3  doz.  tomato  plants 
at  12|c  a  dozen. 

15.  Sold  5  doz.  sweet  potato  plants  at  20c  a  dozen  ;  2  doz.  cabbage 
plants  at  15c  a  dozen. 

16.  Sold  2  doz.  sweet  potato  plants  at  20c  a  dozen  ;  3  doz.  tomato 
plants  at  12§c  a  dozen. 

16.   Detennine  profit,  foot  and  rule  the  account. 

EXERCISE   4 

Account  of  Experiment  with  Leaming  Corn 

Note.  The  data  for  this  exercise  and  the  next  one  were 
taken  from  a  report  of  the  Boys'  Experiment  Club,  Winne- 
bago County,  111. 

May,  19—. 

8.  Hauling  one  load  of  manure,  half  hour,  at  30c  an  hour. 

10.  Plowing,  half  hour,  at  30c. 

10.  Dragging,  half  hour,  at  30c. 

16.  Planting  corn,  20  minutes,  at  30c  an  hour. 

23.  Cultivating,  half  hour,  at  30c. 

31.  Hoeing,  20  minutes,  at  30c  an  hour. 

June,  19 — . 

16.   Cultivating,  half  hour,  at  30c. 

20.   Hoeing,  20  minutes,  at  30c  an  hour. 

July,  19—.- 

10.  Hoeing,  20  minutes,  at  30c  an  hour. 
20.  Hoeing,  20  minutes,  at  30c  an  hour. 

November,  19 — . 

18.   Husking,  2i  hours,  at  8c. 

18.  Value  of  corn,  $3.75. 

18.   Find  profit,  foot  and  rule  the  account. 


40  EVERYDAY  BOOKKEEPING 

EXERCISE  5 

Account  of  Experiment  with  Leaming  Corn 

Note.     The  pupil  may  supply  dates  for  the  following 
items : 

Applying  fertilizer,  45  minutes,  at  loc  an  hour. 

Plowing,  30  minutes,  at  15c  an  hour. 

Harrowing,  marking,  and  planting,  H  hours,  at  20c  an  hour. 

Hoeing  and  weeding,  1  hour  40  minutes,  at  10c  an  hour. 

Cultivating,  1  hour,  15c. 

Gathering  and  marketing,  1  hour  15  minutes,  at  15c  an  hour. 

Sold  142  lb.  corn  at  50c  per  cwt. 

Find  loss,  foot  and  rule  the  account. 

EXERCISE    6 

An  Account  with  a  Flock  of  Chickens 
March,  19 — . 

1.  Bought  incubator  and  supplies,  $10. 

3.  Bought  9  doz.  eggs  at  15c. 

4.  Put  eggs  in  incubator.     (This  is  a  memorandum  entry  and  has 
no  amount  for  the  money  column.) 

27.   90  chickens  hatched. 

27.   Bought  meal  for  chickens,  50c. 

April,  19—. 

2.  Bought  coops  for  chickens,  $2. 
10.   Bought  meal  for  chickens,  $1.20. 
21.    12  chickens  died. 

May,  19—. 

10.   Sold  10  chickens  at  30c  each. 

15.   Bought  corn,  $1. 

29.   Sold  12  chickens  at  30c. 

June,  19 — . 

3.  Sold  3  doz.  chickens  to  grocer  at  25c  each. 

5.  Sold  12  chickens  at  25c. 
5.   Bought  corn,  50c. 


PROPERTY  ACCOUNTS  41 

June,  19 — . 

10.   Sold  8  chickens  at  30c. 

10.   Determine  the  profit,  valuing  the  incubator  and  coops  on  hand 
at  $8.     Foot  and  rule  the  account. 


EXERCISE    7 

Account  with  an  Orchard  for  Season 
March,  19—. 

1.   Paid  for  pruning  old  orchard,  10  days  at  $1.50  per  day. 

4.  Bought  50  peach  trees  at  50c. 
20.   Bought  100  apple  trees  at  25c. 
30.   Paid  for  10  days'  labor  at  $1.25. 

April,  19—. 

5.  Bought  30  plum  trees  at  20c. 
5.   Paid  for  4  days'  labor  at  $1.75. 
8.   Bought  spraying  ingredients,  $3. 

26.   Paid  for  pruning  young  trees,  $12.50. 

May,  19—. 

30.   Sold  cuttings  for  grafts,  90c. 

June,  19 — \ 

5.   Sold  5  bu.  apples  at  $1. 
26.  Sold  20  bu.  apples  at  75c. 

July,  19—. 

20.  Sold  7  bu.  plums  at  80c.  .  ; 

21.  Sold  16  bu.  apples  at  80c. 
24.   Sold  10  bu.  plums  at  70c. 

August,  19 — . 

20.   Paid  for  hauling,  $7. 

30.   Sold  50  baskets  of  peaches  at  25c. 

September,  19 — . 

1.   Sold  5  bu.  peaches  at  80c. 
8.   Sold  12  bu.  peaches  at  90c. 

October,  19—. 

19.   Sold  30  bu.  apples  at  75c. 
30.   Sold  60  bu.  apples  at  90c. 


42  EVERYDAY  BOOKKEEPING 

October,  19—. 

30.   Paid  for  hauling,  $3. 

30.   Balance  the  account,  causing  it  to  show  the  net  returns. 

If  the  proprietor  spent  ten  days  of  his  own  time  on  the  orchard  during 
the  season,  how  much,  above  the  total  outlay,  did  he  receive  per  day  for 
his  labor  ?  Find  his  wages  per  day,  if  the  cost  of  the  new  trees,  together 
with  $8  of  the  undesignated  labor,  is  deducted  from  the  expense. 

EXERCISE    8 

Account  with  Dairy  Cow  "  Maude  " 
April,  19—. 

1.  Purchased  cow  and  calf,  $50. 
20.  Paid  for  dehorning  calf,  50c. 
30.   Cost  of  feed  for  month,  $5. 

30.  Received  during  month  for  milk  sold,  $8. 

May,  19—. 

15.   Paid  veterinarian  for  attending  calf,  $1.50. 

31.  Value  of  feed  for  month,  $5. 

31.   Received  during  month  for  milk  sold,  $10. 

June,  19—. 

20.   Sold  calf  for  $8. 

30.   Feed  and  pasture  for  month,  $4. 

30.  Sold  milk  during  month,  $12. 

July,  19—. 

31.  Feed  and  pasture  for  month,  $4. 
31.   Sold  milk  during  month,  $13. 

31.   Cost  of  care  for  four  months,  $10. 

31.  Valuing  the  cow  at  $45,  determine  the  profit  for  four  months,  and 
balance  the  account. 

EXERCISE   9 

Account  with  Field  of  Wheat  —  40  Acres  (1916  Crop) 

August,  1915. 

30.   Ten  days'  plowing  at  $3. 

September,  1915. 

4.   Hauling  and  spreading  manure.  4  days  at  $3. 
8.   Harrowing,  4  days  at  $3. 


PROPERTY  ACCOUNTS  43 

Septembeiy  1915. 

20.   Drilling,  3  days  at  $3. 
20.   50  bu.  seed  at  90c. 

July,  1916. 

1.   Bought  twine  for  binder,  $9.50. 

7.  Paid  for  help,  harvesting,  $13.50. 

8.  Use  of  team  and  man,  harvesting,  31  days  at  $3. 
20.   Paid  for  help,  stacking,  $13. 

20.   Use  of  team  in  stacking,  $6. 

August,  1916. 

25.   Bought  coal  for  threshing,  $3. 

28.   Paid  for  threshing  960  bu.  (machine  measure)  at  4c. 

28.   Paid  for  help,  threshing,  $12. 

September,  1916. 

15.   Sold  600  bu.  at  95c. 

15.   Hauling  to  market,  $7.50. 

October,  1916. 

20.   Sold  380  bu.  at  $1.05. 

20.   Hauling  to  market,  $4.50. 

20.   Value  of  straw,  $20. 

20.   Determine  the  profit,  and  balance  the  account. 

Remark.  If  it  is  desired  to  obtain  a  closer  estimate  of 
the  profit,  other  items  should  be  considered;  as,  the  rent  of 
the  land  (or  interest  on  its  estimated  value),  use  of  tools, 
and  cost  of  boarding  help. 

Questions.  1.  What  is  the  profit  per  acre  as  shown  by 
the  account  ? 

2.  If  the  land  is  valued  at  $90  per  acre,  the  profit  is  what 
per  cent  on  the  value  of  the  land  ? 

3.  If  the  tax  rate  is  |  %  on  the  value  of  the  land  and  the 
general  upkeep  costs  50  cents  an  acre,  what  is  the  per  cent 
of  profit  on  the  value  of  the  land  after  deducting  these 
items  ? 


44  EVERYDAY  BOOKKEEPING 

EXERCISE   10 

Account  with  Field  of  Corn  —  35  Acres 

October,  19—. 

23.   Plowing  with  4-horse  gang,  Si  days  at  $5.50. 

April,  19—. 

29.  Disking  (4  horses),  9  days  at  $5.50. 

May,  19—. 

4.  Harrowing  (2  horses),  2i  days  at  $3.50. 

5.  Planting  with  planter,  3  days  at  $3.50. 

5.  Seed,  5i  bu.  at  $3. 

14.  Harrowing  after  planting,  3|  days  at  $3.50. 

30.  Cultivating  (first  time),  6  days  at  $3.50. 

June,  19 — . 

6.  Cultivating  (second  time),  5i  days  at  $3.50. 
18.   Cultivating  (third  time),  5  days  at  $3.50. 

July,  19—. 

5.   Cultivating  (fourth  time),  5i  days  at  $3.50. 

October,  19— 

7.  Picking  seed  corn,  6  days  at  $1.25. 

November,  19 — . 

22.   Husking  (from  standing  stalks),  3O2  days  at  $3.50. 

22.  Manure  charge,  $50  ;  use  of  tools,  $20  ;  taxes,  $15  ;  interest  on 
value  of  land  (or  rent),  $140. 

December,  19 — . 

15.  Sold  800  bu.  at  55c. 

31.  Fed  to  stock  500  bu.  at  50c. 

31.  Value  stalks  at  $25,  and  900  bu.  on  hand  at  50c.  Determine 
profit,  and  balance  the  account. 

Find  the  following  :  income  per  acre  ;  cost  per  acre  ;  profit  per  acre ; 
income  per  bushel  ;  cost  per  bushel ;  profit  per  bushel ;  yield  per  acre. 

Note.  —  The  income  per  acre  is  found  by  dividing  the  total  credits  (or 
returns)  by  the  number  of  acres ;  the  cost  per  acre  is  found  by  dividing  the 
total  debits  (or  expenses)  by  the  number  of  acres ;  the  profit  per  acre  is  the 
difference  of  these  two  amounts.  The  corresponding  results  per  bushel  are 
found  in  a  similar  manner. 


PROPERTY  ACCOUNTS  45 

EXERCISE   11 

Account  with  an  Ice  Cream  Stand 
June,  19 — . 

1.  Cost  of  erecting  stand,  $35  ;  cost  of  license,  $1.50. 

2.  Bought  dishes  and  spoons,  $5. 

3.  Bought  covering  for  counter,  $1. 

4.  Bought  chairs,  $4  ;  glasses,  $1.20. 

8.  Bought  10  gal.  ice  cream  at  $1.00  ;  1  doz.  lemons,  30c  ;  10  lb. 
sugar  at  7c  ;  straws,  50c  ;  lemon  shaker  and  squeezer,  $1. 

9.  Received  for  one  day's  sales,  $5. 

10.  Received  for  day's  sales,  $4.50. 

11.  Bought  5  gal.  cream  at  $1.00. 

12.  Received  for  day's  sales,  $7. 

13.  Received  for  day's  sales,  $5. 

15.  Paid  for  ice  for  two  weeks,  $  1.80. 

18.  Bought  10  gal.  cream  at  $1.00. 

19.  Received  for  day's  sales,  $10. 

20.  Sold  stand  and  supplies  for  $65. 

21.  Determine  the  loss  or  the  profit,  and  balance  the  account. 

EXERCISE    12 

Account  with  Soda  Pop  Stand 
August,  19 — . 

3.   Cost   of  lumber  for  stand,   $3  ;  bunting  for  decorations,  50c  ; 
license,  $1.50  ;  covering  for  counter,  $1. 

3.  Bought  tub  for  ice,  45c. 

4.  Bought  1  doz.  lemons,  40c  ;  5  lb.  sugar  at  6c. 

4.  Bought  6  glasses  at  5c. 

5.  Bought  2  cases  pop  at  60c. 

6.  Received  for  one  day's  sales,  $2.35. 

6.  Bought  3  cases  pop  at  60c. 

7.  Received  for  day's  sales,  $3. 

8.  Bought  2  cases  pop  at  60c. 

8.  Received  for  day's  sales,  $3.10. 

10.  Bought  2  cases  pop  at  60c. 

10.  Received  for  day's  sales,  $2.45. 

11.  Paid  for  ice  for  one  week,  60c. 
11.  Bought  2  cases  pop  at  60c. 


46  EVERYDAY  BOOKKEEPING 

August,  19 — . 

11.  Received  for  day's  sales,  $2.30. 

12.  Bought  2  cases  pop  at  60c. 

12.  Received  for  day's  sales,  $2.25. 

12.  Bought  sugar  and  lemons,  65c. 

13.  Bought  1  case  pop,  60c. 

13.  Received  for  day's  sales,  $1.15. 

14.  Received  for  day's  sales,  25c. 

15.  Sold  stand  to  Ralph  Shaw  for  $10. 

15.  Determine  the  profit,  and  balance  the  account. 

EXERCISE   13 

Account  with  a  Cafe 
January,  19 — . 

1.  Paid  rent  for  one-half  month,  $10. 

1.  Paid  for  sign  board,  $5. 

1.  Bought  tables,  $21  ;  chairs,  $6. 

1.  Bought  coffee,  $2  ;  beans,  $5  ;  sugar,  $3  ;  oysters,  $5  ;  milk,  $1. 

2.  Bought  coal,  $3. 

2.  Bought  10  gal.  ice  cream  at  60c. 

2.  Bought  dishes  and  spoons,  $5. 

2.  Receipts  for  the  day's  business,  $5. 

3.  Receipts  for  day's  business,  $1.60. 

4.  Receipts  for  day's  business,  $7. 

5.  Paid  for  milk,  $1. 

6.  Bought  bread,  $1  ;  pies,  $1. 

6.  Receipts  for  day's  business,  $2.20. 

8.  Receipts  for  day's  business,  $2. 

9.  Bought  pies,  $2  ;  bread,  $1. 

9.  Receipts  for  day's  business,  $4. 

10.  Receipts  for  day's  business,  $6. 

11.  Paid  for  milk,  $1  ;  oysters,  $2. 

11.  Receipts  for  day's  business,  $5. 

12.  Bought  crackers,  $2. 

12.  Receipts  for  day's  business,  $6.50. 

13.  Receipts  for  day's  business,  $5.75. 
15.  Receipts  for  day's  business,  $6.25. 

15.  Determine  the  loss  or  the  profit,  valuing  the  equipment  and  sup- 
plies on  hand  at  $30,  and  balance  the  account. 


PROPERTY  ACCOUNTS  47 

EXERCISE   14 

r 

Account  with  a  Bird  Home 
March,  19—. 

1.   Purchased  50  birds,  $30  ;  3  sacks  seed  at  $3. 
3.   Paid  rent  for  March,  $16  ;  bought  cages,  $25. 
8.   Sold  one  canary,  singer,  $1.25  ;  3  parrots  at  $5  ;  2  redbirds  at  $4. 
15.   Bought  3  lb.  sulphur  at  10c. 
18.   Bought  20  pigeons  at  50c. 

20.  Paid  water  rent  for  3  mos.  to  date,  $3. 
29.   Paid  for  coal,  $4. 

April,  19—. 

1.  Paid  rent  for  month,  $16. 

2.  Sold  16  quail  at  65c. 

3.  Bought  sack  seed,  $3 

8.   Sold  2  canaries  at  $1.25  ;  4  blackbirds  at  $1  ;  6  mocking  birds 
at  $6  ;  8  parrots  at  $10. 

10.   Bought  12  assorted  birds,  nestlings,  at  5c. 

21.  Sold  14  pigeons  at  $1.50. 

May,  19—. 

1.   Paid  rent  for  May,  $16. 
6.   Bought  seed,  $1.50. 
8.   Bought  sulphur,  20c. 
15.   Paid  for  coal,  $3. 
24.   Sold  6  pigeons  at  15c. 

31.   Determine  the  profit,  valuing  birds  and  supplies  remaining  at 
$25,  and  balance  the  account. 

EXERCISE    15 

Account  with  Shop  Work 
May,  19—. 

1.  Bought  6  ft.  cypress,  30c  ;  9  ft.  oak,  63c. 

2.  Bought  oak  dye,  25c. 

4.  Sold  towel  roller,  25c. 

6.   Sold  taboret  with  mortise,  $1. 

5.  Sold  small  cypress  sled,  25c. 

10.   Paid  for  having  runners  put  on  sleds,  50c. 
10.   Sold  two  oak  sleds  for  bobsled,  $2.50. 
,     12.   Bought  screws,  15c  ;  nails,  25c. 


48  EVERYDAY  BOOKKEEPING 

May,  19—. 

13.   Bought  auger  bit,  25c. 

16.   Bought  rough  oak,  12  ft.  by  5  m.,  20c. 

18.  Sold  office  box,  $3. 

20.  Sold  taboret  with  screws,  75c. 

23.  Bought  nail  set,  10c. 

25.  Sold  child's  ironing  board,  35c. 

27.  Bought  lumber,  $1. 

29.   Sold  oak  foot  stool,  $1.25. 

31.   Determine  the  profit,  and  balance  the  account. 

EXERCISE    16 

Account  with  Sewing  Parlor 
January,  19—. 

1.   Paid  for  pattern,  chalk,  and  paper,  $1. 

4.  Received  for  making  a  suit,  $10. 

5.  Paid  for  repairs  on  machine,  $4. 

6.  Received  for  making  an  evening  dress,  $8. 
8.   Received  for  making  a  silk  waist,  $3. 

8.  Paid  for  lining,  padding,  basting,  cotton,  and  silk,  $6. 

9.  Received  for  making  coat  and  suit,  $25. 

11.  Received  for  making  kimono,  $3. 

12.  Paid  for  silk  thread  and  lining,  $5. 

13.  Paid  for  buttons  and  pleating  material,  $4. 

15.  R;  ceived  for  making  suit,  $10. 

16.  Received  for  making  an  evening  dress,  $10. 

17.  Paid  for  help,  $20. 

19.  Received  for  making  skirt,  $4. 

20.  Received  for  making  suit  and  waist,  $13. 
22.  Paid  for  chalk  and  paper,  $1. 

25.   Received  for  making  suit,  coat,  and  waist,  $30. 

28.  Received  for  making  skirt,  $3. 

31.  Determine  the  loss  or  the  profit,  foot  and  rule  the  account. 

EXERCISE    17 

Account  with  Art  Shop 
April,  19—. 

1.   Bought  a  Revelation  china  kiln,  $125. 
1.   Paid  rent  for  one  month,  $10. 


PROPERTY  ACCOUNTS  49 

April,  19—. 

2.   Bought  stilts  and  oil  for  the  kiln,  $2. 
4.   Received  for  firing  china,  $4. 

4.  Bought  white  china,  $50. 

5.  Bought  paint  and  Hasburg's  gold,  $25. 

6.  Sold  decorated  china,  $75. 

8.  Bought  turpentine  and  medium  oil,  $1. 

9.  Bought  hydrofluoric  acid  and  paint,  75c. 

10.  Bought  a  gauge  and  plate  divider,  $1. 

11.  Received  for  firing,  $5. 

12.  Sold  decorated  china,  $50. 

13.  Sold  decorated  china,  $75. 
15.  Paid  for  oil,  $5. 

15.  Bought  paint  table,  palette,  and  brushes,  $25. 

16.  Bought  oil  bottles  and  alcohol,  $10. 

18.  Received  for  painting  lessons,  $10. 

19.  Received  for  firing,  $5. 

25.   Received  for  painting  lessons,  $12. 

30.   Value  of  equipment  and  material  on  hand,   $140.     Determine 
the  profit,  and  balance  the  account. 


EXERCISE    18 

Account  with  an  Automobile 
May,  19—. 

1.  Contracted  and  paid  for  automobile,  $815. 

5.  Car  delivered.     Bought  chams  and  one  extra  tire,  $33.10. 

5.  Bought  15  gal.  gasoline  and  3  qt.  oil  for  car,  $3.45. 

8.  Bought  extra  tools,  including  tire  gauge,  $16.85. 

10.  Received  for  taking  box  to  the  depot,  $1.50. 

15.  Paid  for  gasolme  and  oil,  $2.13. 

17.  Received  for  hauling  four  passengers  to  De  Soto,  $7. 

20.  Received  for  delivery  of  flowers  for  florist,  $10. 

22.  Bought  one  blowout  shoe,  75c. 

22.  Received  for  takmg  four  passengers  over  boulevards,  $5. 

23.  Bought  a  Klaxon  horn,  $6. 

24.  Bought  10  qt.  lubricating  oil,  $1.35. 

25.  Received  for  hauling  in  another  car,  $4. 

26.  Received  for  livery,  $3. 

27.  Bought  two  new  inner  tubes,  34  x  3|,  $4.65. 

E 


50  EVERYDAY  BOOKKEEPING 

May,  19—. 

29.   Received  for  taking  party  to  train,  $2. 

29.   Bought  15  gal.  gasoline,  $3.00. 

31.  Value  the  car  and  accessories  at  $825.  Then  find  the  cost  of  the 
upkeep  over  the  returns.     Balance  and  rule  the  account. 

Suggestion.  Write  other  accounts  with  items  showing 
losses  or  profits.  Select  accounts  with  which  you  are 
familiar.  Use  the  following  by  way  of  suggestion:  truck 
patch,  paper  route,  flower  stand,  flock  of  chickens,  merchan- 
dise, herd  of  cattle,  building  house  (you  being  the  owner). 


CHAPTER  IV 
PROMISSORY  NOTES 

A  promissory  note  is  a  written  promise  of  one  person  to 
pay  to  another,  or  to  his  order,  a  specified  sum  of  money  at  a 
designated  time  or  a  time  certain  to  occur. 

Parties  to  a  Note.  There  are  two  original  parties  to  a 
note,  (1)  the  person  who  signs  it,  called  the  maker,  and 
(2)  the  person  to  whom  the  money  is  promised  to  be  paid, 
called  the  payee.  In  the  note  illustrated  on  page  52  Hiram 
Brown  is  the  maker  and  John  Wagner  is  the  payee. 

Negotiability.  The  words  negotiable  and  non-negotiable  as 
used  in  law  have  a  technical  meaning,  which  should  be  dis- 
tinguished from  the  ordinary  meaning  of  the  words.  A 
negotiable  note  (or  check,  draft,  etc.)  is  one  which,  if  it 
passes  into  the  possession  of  a  third  party  before  maturity, 
gives  him  an  absolute  claim  against  the  maker ;  that  is,  the 
maker  cannot  set  up  any  claims  against  the  note  in  settle- 
ment, even  though  he  might  have  done  so,  had  it  remained 
in  possession  of  the  original  payee.  It  is  necessary,  also, 
that  this  third  party  secure  the  note  for  a  consideration  and, 
at  the  time  of  securing  it,  he  must  not  know  of  any  claims 
that  the  maker  may  have  against  the  payee. 

A  non-negotiable  note,  on  the  other  hand,  is  one  which 
does  not  give  the  person  to  whom  it  may  be  transferred  an 
absolute  claim  against  the  maker.  That  is,  in  settlement 
the  maker  may  set  up  any  claims  that  would  have  been 
valid,  had  the  note  remained  in  possession  of  the  original 
payee.     To  illustrate,  suppose  that  A  gives  B  his  note  for 

51 


52  EVERYDAY  BOOKKEEPING 

$300  and  that  B  transfers  it  to  C ;  and  suppose  also  that 
before  the  note  becomes  due  A  has  a  claim  of  $100  against 
B.  If  the  note  is  of  the  negotiable  kind  and  C  is  in  legal 
possession  of  it,  in  settlement  he  can  collect  the  entire  $300 
from  A.  But  if  it  is  of  the  non-negotiable  kind,  C  can  col- 
lect only  the  difference  between  the  note  and  A's  claim 
against  B,  or  $200. 

The  words  indicating  the  quality  of  negotiability  are 
order  and  hearer,  or  words  of  like  meaning.  If  one  of  these 
words  occurs  in  the  note,  and  it  has  been  properly  trans- 
ferred, it  is  negotiable.  If  it  is  made  payable  to  a  certain 
person,  and  without  the  use  of  one  of  these  words,  it  is  non- 
negotiable.  A  non-negotiable  note  is  really  only  a  contract 
and  is  governed  by  the  law  relating  to  contracts.  Each  of 
the  notes  illustrated  on  this  and  the  next  two  pages  is  nego- 
tiable, and  to  be  transferred  would  require  an  indorsement. 
If  the  phrase  or  order  were  omitted  from  them,  they  would 
be  non-negotiable. 

Form  of  a  Note.  A  note  may  be  entirely  in  writing  as 
is  shown  in  the  illustration  below.  The  more  usual  plan, 
however,  is  to  use  printed  forms  as  is  shown  in  the  illustra- 
tions on  pages  53  and  54. 


Individual  Note 

f  /  66.00 

^Uvyyviyw^,  (^kia,  CCiufuoZ  6,  19.- 

cAin&ty,  doA^ 

^ft&v  cLat&,  ^cyv  v-citw& 

v&(^&iA}-&d,  J  ^varA.VQ^& 

to-   jdx^if    ^o-kn   W^a^nsv,    av  (yicL&v,    One 

kai'KcLv&cL  ^t^y-io-t^ 

a.'YLcL  j^  ^attdtQy, 

li^-iXk  i.nt&v&oX/  Ivo-yyu 

clcit&  at  tk&  'bat&  oj^ 

Q^\j?o  ^&\,  ^&nt  jn'&v  o^ywiiiAn,. 

/flvciyfv  Bvcyi4J-n. 

PROMISSORY  NOTES  53 

Partnership  Note 


$268.60  JVo 

Detroit,  Mich,  Tria.'us.k  20,  19__.         ^ 

cfi/xtif  dayo. after  date,  for  value  received, 

W-&  promise  to  pay W.  /if,  ^vci^& or  order, 

at auv  o-j^j^i&& 

3^^^H)■  kiAAVcLv&cL  ^LxZi^-ticfht  a^'vicl  —^:r^^:rcc^^c^yyy:rrrr:rmDollars, 
with  interest  from    yyiattcvlty    cd>  the  rate  of  ^i^x:,    per  cent 

per  annum. 

^o-k'KQX>'yu  and  ^ciyyv^i^M. 


In  the  note  above  shown  each  member  of  the  firm  is   individually 
responsible,  but  in  case  suit  is  brought  they  must  be  sued  together. 

Joint  Note 


/  86.26  vVo 

Kansas  City,  Kansas,  cAo-v-e^yv{>-&v  6,  19 ..^ 

Due 

€rL  Tfldv&k  /,  /'//S; after  date,  for  value  received, 

w-^  promise  to  pay. fa'yyL&^  ^akitt or  order, 

at ^k&  fi-ayyve^  oftat&  Bcm^ 

€iaktu-Q.l/?o  and  — zcrrrrrrrcccccccccc^rrrrrrrrrrccc^ 

with  interest  from..-dat&---at  the  rate  of^.^^l^o.^^per  cent 

per  annum. 

B.  /C.  €ia 


This  note  in  effect  is  the  same  as  a  partnership  note;  that  is,  each 
person  signing  it  is  individually  responsible  for  its  payment,  and  in  case 
suit  is  brought  they  must  be  sued  together. 


54  EVERYDAY  BOOKKEEPING 

Joint  and  Several  Note 


$200.00  J^o 

Philadelphia,  Pa.,  fun&  / ,  19__. 

Due 

^kv&&  y&avQ, after  date,  for  value  received, 

W-&,  ah  &ltk&'b  aj^  tc^,  promise  to  pay  CL.  7?t  Bvaw-^v  or  order, 
at cf&e^ancl  c4citCa'ytat  fScu'n'h 

with  interest  froi7h_._cla.t& at  the  rate  of... o.t'X, per  cent 

per  annum,  pay  able... a^er^ti-dTimccLlty 


Each  person  signing  a  joint  and  several  note  is  individually  responsible 
for  its  payment,  and  if  suit  is  brought  either  may  be  sued  separately,  or 
they  may  be  sued  collectively. 

Indorsement  of  Notes.  When  a  note  is  drawn  payable 
to  order,  it  must  be  indorsed  by  the  payee,  if  it  is  trans- 
ferred to  some  other  person.  Indorsements  are  usually 
'  written  across  the  left-hand  end  of  the  back  of  notes.  There 
are  different  forms  of  indorsements,  a  few  of  which  are 
illustrated  on  the  next  page. 

Instead  of  the  word  order,  the  word  hearer  may  be  used  in 
a  note.  If  it  is  so  written,  it  may  be  transferred  without 
indorsement;  but  it  is  better,  even  in  this  case,  for  the  per- 
son receiving  the  note  to  require  it  to  be  indorsed  as  evi- 
dence that  the  payee  has  transferred  it.  It  is  safer,  how- 
ever, to  write  notes  payable  to  order,  for  if  payable  to 
bearer  and  lost  or  stolen  any  one  can  present  them  for 
payment. 


PROMISSORY  NOTES  55 

Illustration  of  Indorsements 


If  the  note  is  to  be  paid  only  to  the  person  named  in  it, 
the  words  order  and  hearer  should  be  omitted. 

What  is  said  here  about  the  indorsement  of  notes  applies 
also  to  checks,  drafts,  or  other  commercial  paper. 

Effect  of  Indorsement.  An  indorsement  transfers  the  in- 
dorser's  title  to  the  note  (or  other  negotiable  paper)  to  the 
indorsee.  It  also  acts  as  a  guarantee  by  the  indorser  that 
he  will  make  the  note  good,  if  the  maker  should  fail  to  do  so. 

Indorser  and  Indorsee.  If  the  payee  of  a  note  transfers 
it  to  another  by  indorsement,  he  becomes  an  indorser,  and 
the  person  to  whom  it  is  thus  transferred  becoip.es  an 
indorsee.  , 

Maturity  of  Notes.  By  the  maturity  of  a  note  is  meant 
the  date  when  it  is  due.  Sometimes  this  is  specified  in  the 
body  of  the  note  by  month  and  day;  as,  "  On  August  1, 
19 — ,  I  promise,  etc.^'  Sometimes  it  is  made  payable  a 
certain  number  of  days,  months,  or  years  after  a  specified 
time.  If  this  period  of  time  is  given  in  days,  the  Qxact 
number  must  be  counted  to  obtain  the  date  of  maturity. 


56  EVERYDAY  BOOKKEEPING 

If  the  time  is  given  in  months,  a  calendar  month  is  meant ; 
that  is,  from  a  certain  day  of  one  month  till  the  same  day 
of  the  following  month,  provided  this  following  month  has 
the  requisite  number  of  days ;  otherwise  the  time  would 
end  on  the  last  day  of  the  shorter  month.  To  illustrate 
this  last  statement,  suppose  four  notes  are  given  respec- 
tively on  January  28,  29,  30,  and  31,  each  for  one  month. 
Each  of  these  would  be  due  February  28,  except  in  a  leap 
year.  If  the  time  is  in  years,  the  rule  is  similar  to  the  rule 
for  months. 

Exercise  in  Writing  Notes 

1.  S.  M.  Davis  gave  note  payable  to  J.  C.  Armsby,  or  order,  for 
$612,  at  90  days  from  date,  at  6%  interest  from  date.  Date  of  note, 
March  12,  1914. 

2.  On  July  20,  1914,  W.  M.  Johns  gave  a  note  to  R.  M.  Russell,  or 
bearer,  for  $235.20,  payable  2  years  from  date,  with  interest  at  6%  from 
date  and  payable  semiannually. 

3.  Note  dated  September  1,  1914,  payable  March  1,  1915,  interest 
6%  after  maturity.  Made  bj^  J.  M.  Carr  and  A.  B.  Carney  and  payable 
to  W.  S.  Cordin,  or  order.    Write  joint  note. 

4.  Using  data  of  preceding,  write  joint  and  several  note. 

5.  Maker,  A.  M.  Brown  ;  payee,  S.  M.  Hale  ;  date,  January  5,  1915  ; 
time,  3  years  from  date  ;  amount,  $328.40  ;  interest,  6%  payable  semi- 
annually. Write  order  note  payable  at  Central  National  Bank  and 
transfer  it  to  A.  H.  White  by  special  indorsement. 

6.  Write  individual  bearer  note  payable  at  Central  National  Bank, 
with  interest  from  maturity,  and  transfer  it  by  special  indorsement. 

7.  Write  partnership  order  note,  with  interest  from  date  and  payable 
annually,  and  transfer  it  by  restrictive  indorsement. 

8.  Write  joint  and  several  order  note,  with  interest  from  date. 

9.  Write  individual  order  note  (payable  at  office  of  maker)  with  no 
mention  of  interest.     Will  a  note  so  written  draw  interest  ? 

10.  Write  individual  "order"  note  for  $250,  using  current  date ;  time, 
60  days  from  date;  interest,  6%  from  date;  payee,  John  McBride; 
maker,  Caleb  Moore. 

11.  Write  ''order"  note  for  $375  for  9  months  at  6%,  using  current 
date,  favor  of  D.  S.  Marshall,  and  made  by  Leroy  Spencer.  Transfer 
the  note  by  special  indorsement  to  S.  M,  Springer. 


PROMISSORY  NOTES  57 

12.  Write  joint  note:  amount,  $460;  current  date;  time,  one  year 
from  date;  interest,  6%  payable  semiannually;  payee,  J.  R.  Stone; 
makers,  W.  S.  Bell  and  R.  S.  Kline. 

13.  Write  "  bearer"  note,  using  current  date;  time,  120  days;  payee, 
W.  W.  Brown ;  amount,  $290 ;  rate  of  interest,  6  %  from  maturity,  pay- 
able semiannually;   maker,  L.  L.  HoUis. 

14.  Write  note  favor  J.  S.  Ramsey  and  Company,  or  order,  for  $420, 
at  6%  interest  from  date;  date,  March  10,  19 — ;  time,  10  months; 
maker,  W.  B.  Marsh ;   payable  at  Central  National  Bank. 

15.  Write  individual  order  note,  payable  to  some  firm  at  their  office, 
with  interest  from  date  at  the  lowest  legal  rate  for  your  state. 


CHAPTER  V 
ACCOUNTS  WITH  NOTES 

Kinds  of  Notes  in  Relation  to  Maker  and  Payee.  In  ac- 
counts with  notes  a  twofold  classification  is  made,  based  on 
the  relation  of  the  maker  and  the  payee  to  the  note.  The 
maker  of  a  note  calls  it  a  note  payable,  because  he  must  pay  it 
at  some  future  time.  The  payee  of  a  note  calls  it  a  note  re- 
ceivahle,  because  he  is  to  receive  pay  for  it  at  some  future  time. 
If  a  note  is  transferred  to  another,  whether  by  indorsement 
or  otherwise,  this  person  calls  it  a  note  receivable,  because 
he  is  now  the  one  who  is  to  receive  pay  for  it. 

Rule  for  Debiting  and  Crediting  Notes 

Debit  1  ^received. 

\  a  note  when  it  isi 
Credit  \  \  given  wp. 

The  Accounts.  Since  there  are  two  kinds  of  notes  the 
records  of  them  are  kept  in  separate  accounts.  The  record 
for  each  note  should  contain  all  the  important  facts  concern- 
ing it. 

Remark.  Instead  of  using  the  terms  notes  receivable  and  notes  payable 
for  the  titles  of  these  accounts,  the  terms  bills  receivable  and  bills  payable 
are  frequently  used.  The  reason  for  this  is  that  time  drafts  usually  are 
recorded  in  the  same  account  with  notes  ;  and  the  word  bill  applies  to 
both  a  note  and  a  draft.  But  drafts  have  not  yet  been  considered.  For 
this  reason,  and  because  it  is  more  definite,  the  word  note  is  used  here. 

58 


ACCOUNT  WITH  NOTES 


59 


ILLUSTRATION  OF  ACCOUNTS   WITH  NOTES 


Notes  Receivable 


1917 


Dr. 


Cr. 


March 
April 

20 
25 
4 
6 

12 
27 
30 

Loaned  John  Crawford  cash  on  his  note  at  15 

days,  with  interest  at  6  % 
Received  of  H.  S.  Ball  on  account  his  note  at 

60  days,  with  interest  at  6  % 
Received  cash  of  John  Crawford  for  his  note  of 

March  20,  1917,  due  to-day  i 
Received  of  A.  S.  Ramsey,  for  horse  sold  him, 

note  made  in  his  favor  by  W.    H.   Lamb, 

dated  Jan.  10,  1916,  and  due  July  10,  1917 
Loaned  R.  S.  Stevens  cash  on  his  note  at  15 

days,  with  interest  at  6  % 
Received  cash  of  R.  S.  Stevens  for  his  note  of 

April  12,  1917  i 
Balance  {Red  ink) 

200 
175 

150 
180 

00 
00 

00 

00 

200 

180 
325 

00 

00 
00 

705 

00 

705 

00 

May 

1 

Balance  — H.  S.  Ball's  note  dated  March  25, 
1917,  $  175,  and  W.  H.  Lamb's  note  received 
April  6,  1917,  $  150 

325 

00 

Notes  Payable 


1917 

Dr. 

Cr. 

July 

8 
15 
20 

Gave  C.  M.  Ball  my  note  on  account  for  2 
years  at  6  (fo  interest  payable  semiannually 

Gave  R.  W,  Ardrey,  for  money  borrowed,  my 
note  for  30  days  at  6  fo  interest 

Borrowed  cash  of  W.  C.  Crowley  on  my  note 
at  60  days 

200 
90 
120 

00 
00 
00 

Aug. 

14 

Paid  in  cash  note  of  July   15,   1917,   favor 
R.  W.  Ardrey  1 

90 

00 

1  Although  this  note  draws  interest,  no  record  of  it  is  made  here.  A 
record  of  interest  is  made  in  the  interest  account  which  is  illustrated  on 
page  74. 


60  EVERYDAY  BOOKKEEPING 

EXERCISE   1 

Accounts  with  Notes 

Direction.  For  this  exercise  open  two  accounts,  one 
with  Notes  Receivable  and  the  other  with  Notes  Payable. 
Be  careful  in  classifying  the  notes  that  you  make  the  record 
in  the  correct  account. 

April,  19—. 

10.   Gave  B.  S.  Small  note  at  10  days  on  account,  $50. 

15.  Received  note  of  W.  H.  Camp  at  60  days  for  $200,  at  6%  interest, 
for  cash  lent  him. 

18.  B.  W.  Smith  gave  me  his  note  at  90  days  to  apply  on  account, 
$150. 

20.   Paid  in  cash  note  of  the  10th,  favor  B.  S.  Small. 

25.  Borrowed  of  W.  S.  Pate  on  my  note  at  15  days,  at  6%  interest, 
$125. 

28.  R.  M.  Raines  gave  me  his  note  at  6  months,  with  6%  interest, 
for  hogs  sold  him,  $60.40. 

30.   Loaned  E.  K.  Daniels  cash  on  his  note  at  20  days,  at  6%,  $125. 

May,  19—. 

10.   Paid  W.  S.  Pate  amount  borrowed  April  25. 

12.   Gave  D.  C.  Ames  note  for  $80  for  3  months,  at  6%,  on  account. 

20.   Received  cash  of  E.  .K.  Daniels  for  loan  of  April  30. 

25.  Transferred  W.  H.  Camp's  note  of  April  15  to  E.  C.  Smith  for 
cattle  purchased  of  him. 

27.   Gave  my  note  at  90  days  on  account  to  S.  M.  Hadden  for  $50. 

EXERCISE   2 

Accounts  with  Notes 

Instruction.  Open  one  account  with  Notes  Receiv- 
able, and  another  with  Notes  Payable. 

September,  19 — . 

3.  Sold  R.  F.  Graham  on  his  note  at  6  days,  with  interest  at  6%, 
3  M  ft.  hemlock  boards  at  $12  per  thousand  ;  8  M.  XX  shingles  at  $4 
per  thousand. 


ACCOUNT  WITH  NOTES  61 

September,  19 — . 

4.  Borrowed  cash  of  J.  T.  McKitrick  on  note  at  90  days,  with  interest 
at  6%,  $450. 

9.   Received  cash  of  R.  F.  Graham  for  his  note  of  the  3d,  $68. 

11.  Sold  H.  H.  Martin  on  his  note  at  8  days,  with  interest  at  6%, 
20  M  XX  shingles  at  $4  per  thousand  ;  7  M  laths  at  $3  per  thousand  ; 
9  M  ft.  flooring  at  $25  per  thousand. 

12.  Received  of  C.  B.  McMuUen  note  at  15  days,  with  interest  at  6%, 
on  account,  $250. 

19.  Received  cash  of  H.  H.  Martin  for  his  note  of  the  11th. 

20.  Sold  stock  of  lumber  to  H.  H.  Martin  on  his  note  at  60  days,  with 
interest  at  6%,  for  $1550. 

26.  Gave  William  Murchie  on  account,  note  at  60  days,  with  interest 
at  6%,  $800. 

27.  Received  cash  of  C.  B.  McMullen  for  note  of  the  12th  due 
to-day. 

30.  Bought  of  J.  W.  McClenahan  invoice  of  lumber  and  gave  in  pay- 
ment note  of  20th,  held  against  H.  H.  Martin,  $1550. 

October,  19—. 

3.  Sold  H.  Finney  on  his  note  at  30  days,  with  interest  at  6%,  16  M 
XX  shingles  at  $4  per  thousand  ;  17  M  ft.  spruce  lumber  at  $15  per 
thousand  ;  3  M  ft.  flooring  at  $25  per  thousand. 

10.  Gave  William  Murchie  note  at  5  days,  with  interest  at  6%,  to 
apply  on  account,  $600. 

13.  Received  cash  of  H.  Finney  in  part  payment  of  note  of  3d, 
$375. 

15.   Paid  in  cash  note  of  the  10th,  favor  of  William  Murchie. 

19.  Sold  J.  C.  Long  on  his  note  at  11  days,  with  interest  at  6%,  12  M 
laths  at  $3  per  thousand  ;  8  M  ft.  pine  boards  at  $18  per  thousand  ; 
9  M  ft.  spruce  lumber  at  $15  per  thousand. 

12.  Received  of  C.  B.  McMullen  note  at  30  days,  with  interest  at  6%, 
to  apply  on  account,  $200. 

25.  Bought  of  David  Wylie  on  note  at  6  days,  with  interest  at  6%, 
invoice  of  lumber,  $490. 

26.  Received  of  S.  G.  Craig  on  account,  note  at  60  days,  with  interest 
at  6%,  $225. 

30.  Received  cash  of  J.  C.  Long  for  his  note  of  the  19th,  $315. 

31.  Paid  David  Wylie  cash  for  note  of  the  25th. 
31.   Balance  and  rule  both  accounts. 


62 


EVERYDAY  BOOKKEEPING 


m 


ao 

o  o 

SO 

i 

i 

< 

c  ^ 

■ 

Drawer 
OB  Last 
Indorsee 

o 

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a 

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C 
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ACCOUNT  WITH   NOTES  63 


THE   BILL-BOOK 


Another  method  of  keeping  a  record  of  notes,  but  without 
the  debits  and  credits,  is  by  using  a  bill-book.  Such  a  book 
is  specially  ruled  for  the  purpose.  These  books  differ  in 
minor  particulars,  but  the  forms  on  page  62  illustrate  the 
principal  features  of  all  bill-books.  The  terms  drawer 
and  drawee  used  in  these  forms  refer  to  drafts.  They  are 
given  because  bill-books  are  usually  prepared  for  both  notes 
and  drafts. 

Exercise  for  the  Bill-Books 
Record  the  notes  of  pages  60  and  61  in  the  bill-books. 


CHAPTER  VI 
ORDERS  AND  CHECKS 

An  order  is  a  request  of  one  person  on  a  second  to  pay 
money  or  to  deliver  goods  to  a  third  person. 

Parties  to  an  Order.  There  are  three  original  parties  to 
an  order :  the  drawer,  the  drawee,  and  the  payee.  The 
drawer  is  the  person  drawing  the  order,  that  is,  the  person 
making  the  request;  the  drawee  is  the  person  upon  whom  it 
is  drawn,  that  is,  the  person  who  is  to  pay  it;  the  payee  is 
the  person  in  whose  favor  it  is  drawn,  that  is,  the  person  to 
whom  the  money  is  to  be  paid,  or  to  whom  the  goods  are 
to  be  delivered.  If  the  payee  transfers  an  order  to  another 
by  indorsement,  he  becomes  an  indorser,  and  the  person  to 
whom  it  is  thus  transferred  is  called  an  indorsee. 

In  the  first  of  the  following  orders  W.  C.  Huston  is  the 
drawer,  H.  F.  Needham  is  the  drawee,  and  W.  H.  Kern  is 
the  payee. 

A  Form  of  Order  Payable  in  Money 


$25.00  Dayton,  Ohio,  (Z^^vU  16,  19 ^._ 

//.  c^.  cAo&dkamv will  -please  pay  the  hearer, 

m.  /i^.  ICe.V'yi 

and  charge  the  same  to  my  account. 


64 


ORDERS  AND  CHECKS  65 

A  Form  op  Order  Payable  in  Goods 


$  /6.00  Pittsburg,  Kansas,  f^yie.  8,  19. -. 

o/.  ?yi.  ^'yyu^tt,  ^/6  B'vo-a^dw-ciy ivill  please 

deliver  to ^ayyyvw&t  14}-kit^x>'Yyv{}^ goods  to  the  amount  of 

and  charge  the  same  to  my  account. 


Classes  of  Orders.  Orders  may  be  classed  as  general 
and  specific.  The  general  order  (called  simply  an  order)  is 
used  in  any  common  business  transaction  in  which  a  second 
person  is  requested  to  pay  money  or  to  deliver  goods  to  a 
third.  The  specific  orders  are  checks,  drafts,  letters  of 
credit,  postal  and  express  money  orders,  etc.  These  take 
their  names  from  the  circumstances  or  relations  in  which 
they  are  used. 

Checks.  A  check  is  a  written  order  of  a  person  (depositor) 
on  a  bank  requesting  the  payment  of  a  specified  sum  of 
money  to  another  person,  or  to  his  order. 

A  Form  of  Check 


e/Yo. Kansas  City,  Kansas,  tZufiia^t,  /6,  19..^ 

Cbe  Rome  State  Banh 

Fay  to  the  order  of. €.   W-.   Ram^e^if  f  /^6.26 

h^vndv&d  iavtu-a^ioo  and  —^ccciyy^'y:r:r:frrrr^::^rrcccc^Dollars. 


l'K& 


R.  £.  /i^a^tdt. 


66  EVERYDAY  BOOKKEEPING 

Exercise  in  Writing  Checks 

Directions.  Write  the  checks  of  this  exercise,  but  pay 
no  attention  to  the  deposits.  They  are  to  be  used  in  the 
next  chapter.  Where  a  name  is  omitted  in  the  memoranda, 
th6  pupil  may  use  his  own  name.  Save  the  checks  written 
in  this  exercise  for  use  in  the  next  chapter. 

If  preferred,  this  exercise  and  Exercise  1  of  Chapter  VII 
may  be  written  at  the  same  time. 

January,  19 — . 

10.   Deposited  currency  in  The  Home  State  Bank,  $50. 

12.  Drew  check  on  The  Home  State  Bank,  favor  A.  S.  Crawley,  for 
$20. 

13.  Received  check  drawn  by  R.  S.  Ramsey,  in  my  favor,  on  The  First 
National  Bank  for  $10. 

15.  Drew  check  on  The  Home  State  Bank,  favor  L.  M.  Hadden,  for 
$10. 

16.  D.  W.  Dragoo  gave  me  check  on  The  Commercial  National  Bank, 
drawn  in  his  favor  by  A.  R.  Brown,  and  transferred  to  me  by  special  in- 
dorsement, $16.80.     (Write  the  indorsement.     See  page  55.) 

17.  Deposited  :  notes,  $15  ;  coin,  $8.40  ;  checks  of  13th  and  16th. 

18.  Drew  check  on  The  Home  State  Bank  for  $21.75,  favor  J.  H.  Jones. 
20.  A.  K.  Henry  gave  me  check  drawn  on  The  Stock  Exchange  Bank 

by  himself  in  my  favor  for  $23.60. 

22.  Received  of  R.  E.  Bailey  a  check  on  The  Home  State  Bank,  drawn 
in  his  favor  by  Z.  M.  Mitchell,  and  transferred  to  me  by  special  indorse- 
ment, $12.85. 

24.  Deposited  :  notes,  $21  ;  coin,  $12.50  ;  checks  on  hand. 

25.  Drew  check  on  The  Home  State  Bank  for  $31.20,  favor  B.  S. 
Long. 

26.  Received  check  drawn  in  my  favor  by  J.  W.  Ball  on  The  Com- 
mercial National  Bank,  $19.80. 

27.  Drew  check  on  The  Home  State  Bank,  favor  myself,  $7.20. 

29.  S.  K.  Thompson  gave  me  check  on  the  Stock  Exchange  Bank, 
drawn  in  his  favor  by  John  Colton,  and  transferred  to  me  by  special  in- 
dorsement, $22.90. 

30.  Deposited  :  notes,  $17  ;  coin,  $9.25  ;  all  checks  on  hand. 

31.  Balance  the  account  after  writing  it  as  Exercise  1  of  Chapter  VII.. 


CHAPTER  VII 

ACCOUNT  WITH  A  BANK 

The  account  with  a  bank  is  included  among  personal- 
accounts  by  the  definition  in  Chapter  II.  The  rule  for 
debiting  and  crediting  given  there  will  apply  to  this  account,, 
but  one  in  a  little  different  form  is  given  here.  This  account 
may  be  kept  in  a  check  book. 

Rule  for  Debiting  and  Crediting  a  Bank 

Debit  1  f  deposit  is  made. 

}the  bank  when  a  I 
Credit  j  [  check  is  drawn  on  it. 

Deposit  Ticket.  When  a  deposit  is  made  in  a  bank  the 
items  of  the  deposit  are  filled  out  on  a  ticket  prepared  for 
that  purpose.  It  is  customary  for  the  depositor  to  fill  out 
the  ticket  and  then  to  present  it  with  the  deposit  at  the 
Receiving  Teller's  window. 

EXERCISE   1 

Account  with  The  Home  State  Bank 

Directions.  In  this  exercise  the  data  of  the  exercise  for 
writing  checks  (Chapter  VI)  may  be  used.  In  connection 
with  each  deposit  fill  out  a  deposit  ticket.  Indorse,  by  a 
blank  indorsement,  all  checks  deposited.  Signing  the  name 
as  it  is  on  the  face  of  a  check  is  the  usual  indorsement  when 
the  check  is  deposited  or  cashed  at  a  bank.  If  a  check  has 
been  indorsed  already  one  or  more  times,  the  name  should  be 
written  below  the  other  indorsements. 

It  may  be  that  a  few  deposit  tickets  can  be  secured  at 
some  local  bank.     If  not,  they  can  be  prepared. 

67 


68 


EVERYDAY  BOOKKEEPING 


A  Form  of  Deposit  Ticket 
DEPOSITED  WITH 

FOURTH  NATIONAL  BANK 

OF  PHILADELPHIA 
To  the  Credit  of 


191 


PLEASE  LIST  EACH  CHECK  SEPARATELY 


DOLLARS 

CTS. 

Notes 

Coin 

CHECKS  AS  FOLLOWS: 

(If  in  City  name  of  Bank  ;   if  out  of  City, 
name  of  place  where  payable.) 

lil 

Ul 

^ 

g 

I 

o 

z 

3 
-1 

o 

h 

Total.  $ 

_ 

SEE  THAT  ALL  CHECKS  AND  DRAFTS  ARE  INDORSED 


Note.  The  term  "  notes  "  as  used  in  the  above  Deposit  Ticket  refers 
to  paper  money  —  sometimes  called  bills.  "  Coins  "  includes  gold,  silver, 
nickel,  and  copper  coins  issued  by  the  government.  On  some  Deposit 
Tickets  the  terms  "currency,"  ''gold,"  and  "silver"  are  used,  in  which 
use  the  nickel  and  copper  coins  are  included  with  the  silver. 


ACCOUNT  WITH  A  BANK  69 

Illustration  of  an  Account  with  a  Bank 


Cy. 


Cd-t<^. 


/o 
/z 

/3 

Z3 
3/ 


^^ 


23 


^.3 


Co 


Cc 


/s  zo 


f 
/z 


Ci 


oo 
2^ 


Co 


EXERCISE   2 

Account  with  The  Commercial  National  Bank 

March,  19—. 

2.  Opened  an  account  this  day  depositing  notes,  $50  ;  coin,  $25. 

2.  Drew  check  favor  John  Kelsey,  $10. 

5.  Drew  check  favor  H.  H.  Cogwell,  $5. 

7.  Drew  check  favor  L.  H.  Coons,  $15. 

10.  Deposited  as  follows  :  notes,  $20  ;   coin,  $12.30  ;   checks  signed 
as  follows  :    J.  R.  Camp,  $4  ;  S.  M.  Baker,  $9. 

12.  Drew  check  favor  John  Kelsey,  $12. 

16.  Drew  check  favor  C.  C.  Ball,  $18. 

20.  Deposited  notes,  $9  ;   coin,  $27.60  ;  check  made  by  H.  F.  Adams, 
$6.20. 

25.  Drew  check  favor  myself,  $15.25. 

30.  Drew  check  favor  R.  S.  Burgess,  $15.40. 


70  EVERYDAY  BOOKKEEPING 

AprH,  19—. 

1.   Drew  check  favor  A.  G.  Kelley,  $40. 

6.   Deposited  notes,  $40  ;  coin,  $12.90  ;  checks  signed  as  follows  : 
T.  J.  Axline,  $8.50  ;  R.  S.  Cupp,  $12.30. 
8.   Drew  check  favor  A.  H.  Brown,  $30. 
10.   Drew  check  favor  A.  B.  Craig,  $14.20. 
15.   Drew  check  favor  B.  C.  Dunning,  $9.50. 
18.   Deposited  currency,  $30 ;  gold,  $20. 

20.  Drew  check  favor  John  Kelsey,  $8. 

21.  Drew  check  favor  A.  B.  Craig,  $4.30. 

23.  Drew  check  favor  H.  H.  Cogwell,  $5. 

24.  Drew  check  favor  C.  C.  Ball,  $15. 

25.  Deposited  checks  signed  as  follows  :  R.  L.  Boyer,  $8.60  ;  H.  C. 
Black,  $9.20. 

27.  Drew  check  favor  W.  W.  Brown,  $10.40. 

28.  Drew  check  favor  H.  C.  Campbell,  $15.90. 
30.  Drew  check  favor  L.  M.  Hopkms,  $21.80. 
30.  Balance  and  rule  the  account. 

Accounts  with  a  Savings  Bank 

The  illustration  opposite  shows  a  common  form  for  savings 
accounts.  The  method  of  keeping  the  account  will  be  clear, 
it  is  thought,  from  an  examination  of  the  illustration,  except- 
ing the  interest  items  on  July  1  and  January  1.  In  this 
illustration,  the  interest  is  computed  at  3  %  per  annum  and 
added  each  six  months  on  the  following  basis :  The  smallest 
balance  for  each  month  draws  interest  for  that  month.  But 
an  amount  deposited  not  later  than  the  5th  of  the  month 
draws  interest  for  that  month,  unless  a  withdrawal  is  made 
later  in  the  month,  reducing  the  balance  to  an  amount 
smaller  than  it  was  on  the  5th  of  the  month. 

In  the  illustration  the  smallest  amount  for  January  is 
$50.  In  February  the  smallest  balance  is  $90,  as  no  new 
deposit  was  made  till  the  8th.  For  March  $145  draws  in- 
terest, as  a  deposit  was  made  before  the  5th  and  the  with- 
drawal on  the  25th  did  not  reduce  the  balance  below  this 


ACCOUNT  WITH  A  BANK 


71 


A  Form  of  an  Account  with  a  Savings  Bank 


1916 

Deposited 

Withdrawn 

Balances 

Jan. 

2 

50 

00 

50 

00 

13 

40 

00 

90 

00 

Feb. 

8 

20 

00 

110 

00 

17 

10 

00 

120 

00 

25 

6 

00 

115 

00 

Mar. 

4 

30 

00 

145 

00 

15 

20 

00 

165 

00 

25 

10 

00 

155 

00 

May 

9 

15 

00 

140 

00 

20 

25 

00 

165 

00 

27 

5 

00 

170 

00 

June 

12 

20 

00 

190 

00 

27 

50 

00 

140 

00 

July 

1 

1 

80 

Int. 

141 

80 

10 

30 

00 

171 

80 

Aug. 

3 

15 

00 

186 

SO 

15 

10 

00 

176 

80 

Sept. 

12 

20 

00 

196 

80 

Nov. 

15 

25 

GO 

221 

80 

Dec. 

15 

20 

00 

251 

80 

22 

15 

00 

236 

80 

19 

17 

Jan. 

1 

2 

78 

Int. 

239 

58 

amount.  The  April  balance  is  $155,  as  there  was  no  de- 
posit or  withdrawal  during  the  month.  The  smallest  bal- 
ance for  May  is  $140.  For  June  it  is  also  $140.  Adding 
these  smallest  monthly  balances  gives  a  total  of  $720. 
The  interest  on  this  amount  at  3%  for  one  month  is  $1.80. 
This  is  added  to  the  preceding  balance  on  July  1. 

Suggestion  to  the  Student.    Verify  the  interest  for 
January  1. 


Exercise  for  Savings  Bank  Account 

Direction.     Write  up  the  following  exercise,  using  the 
preceding  form  as  a  model : 


72 


EVERYDAY  BOOKKEEPING 


19—. 

19—. 

Feb. 

1. 

Deposited, 

$50.00 

Jan. 

1. 

Add  interest  at  3  %. 

15. 

Deposited, 

30.00 

15. 

Deposited, 

$  5.00 

Mar. 

3. 

Deposited, 

40.00 

Feb. 

8. 

Deposited, 

15.00 

10. 

Withdrawn, 

15.00 

15. 

Deposited, 

25.00 

20. 

Deposited, 

20.00 

April 

3. 

Deposited, 

20.00 

April 

2. 

Deposited, 

30.00 

10. 

Withdrawn, 

15.00 

18. 

Withdrawn, 

10.00 

June 

1. 

Deposited, 

8.00 

June 

10. 

Deposited, 

25.00 

15. 

Deposited, 

25.00 

22. 

Deposited, 

15.00 

July 

1. 

Add  interest  at  3%. 

July 

1. 

Add  interest  at  3%. 

1. 

Deposited, 

15.00 

3. 

Withdrawn, 

10.00 

15. 

Deposited, 

12.00 

15. 

Deposited, 

15.00 

Aug. 

3. 

Deposited, 

20.00 

Aug. 

8. 

Deposited, 

20.00 

17. 

Deposited, 

18.00 

25. 

Deposited, 

10.00 

Oct. 

1. 

Deposited 

25.00 

Sept. 

1. 

Deposited, 

15.00 

19. 

Withdrawn, 

14.00 

20. 

Withdrawn, 

10.00 

Nov. 

1. 

Deposited, 

15.00 

28. 

Deposited, 

20.00 

10. 

Deposited, 

10.00 

Oct. 

14. 

Deposited, 

20.00 

Dec. 

8. 

Deposited, 

17.00 

Nov. 

1. 

Deposited, 

25.00 

21. 

Withdrawn, 

15.00 

15. 

Deposited, 

20.00 

19—. 

Dec. 

22. 

Withdrawn, 

15.00 

Jan. 

1. 

Add  interest  at  3%. 

Suggestion.  Inquire  the  rate  of  interest  paid  by  your 
local  Savings  Bank  and  the  rule  used  in  obtaining  the 
monthly  balances,  and  the  interest  periods.  Then  write  an 
exercise  covering  a  period  of  a  year  or  more,  treating  it  in  ac- 
cordance with  local  usage. 

Query.  If  a  young  man  18  years  of  age,  instead  of  spend- 
ing five  cents  a  day  for  cigars,  would  put  $1.50  in  a  Savings 
Bank  on  the  first  day  of  each  month,  how  much  would  it 
amount  to  by  the  time  he  is  30,  if  interest  is  added  each  six 
months  at  3%  per  annum? 


CHAPTER  VIII 
INCIDENTAL  ACCOUNTS 

Accounts  may  be  divided  into  four  classes: 

1.  Personal 

2.  Property 

3.  Incidental 

4.  The  loss  and  profit 

Personal  accounts  and  property  accounts  have  had  some 
consideration  already.  The  loss  and  profit  account  is  used 
in  a  complete  system  of  bookkeeping  into  which  to  collect 
the  losses  and  the  profits  shown  by  other  accounts.  It 
will  be  fully  explained  at  the  proper  place.  All  other 
accounts  may  be  grouped  as  incidental.  The  accounts 
which  are  put  in  this  class  are  so  varied  that  it  is  difficult  to 
select  a  satisfactory  term  by  which  to  designate  the  class. 
Various  terms  have  been  used,  among  which  are  incidental, 
use  and  service,  allowance,  nominal,  and  imaginary. 

This  group  includes  all  accounts  that  show  losses  or  profits, 
but  which  usually  do  not  have  anything  in  the  way  of  prop- 
erty ^  connected  with  them.  A  few  of  these  are  expense, 
interest,  discount,  commission,  rent,  advertising,  salary, 
and  storage. 

Rule  for  Debiting  and  Crediting 
Debit  I  [  loss. 

[   the  incidental  item  when  it  produces  a  \ 
Credit  J  [  profit. 

^  Note  the  meaning  of  property  as  used  here.    See  Chapter  III. 

73 


74  EVERYDAY  BOOKKEEPING 

Illustration  of  an  Incidental  Account 


.    /9'^ 

\5v 

C.v. 

e^ 

2-0 

/^ 

4/^ 

3o 

o^^o^z^lb^^L^i^  c^yh^^:t^L^^^^ 

J"^ 

/^^ 

3o 

^S-«^TZ^^  /^^^  2><y 

/t/ 

'.^ 

^^ 

/ 

^^^T't^^^^^i^t^  UT-i^^^yU^^i-/- ^^^ 

/^o^ 
.^^ 

,4^ 

^^ 

INCIDENTAL  ACCOUNTS  75 

Note.  In  balancing  this  account,  if  all  interest  has  been  paid,  the 
difference  will  be  the  loss  or  the  profit.  In  the  case  illustrated  there  would 
be  a  profit  of  $54.70.  But  if  some  interest  is  due  at  this  time  and  unpaid, 
it  must  be  considered,  if  the  account  is  to  show  the  true  loss  or  profit. 

In  continuing  this  account  the  "  unpaid  interest  due  "  would  be  brought 
below  the  rulings,  but  the  "  profit  "  would  not  be.  If  the  amount  due  is 
small,  it  need  not  be  considered  in  balancing  an  interest  account.  If  paid 
during  the  next  business  period,  it  would  be  included  then,  and  the  result 
would  be  the  same  in  the  end.  But  if  a  considerable  amount  is  due,  it 
should  be  considered. 

The  preceding  statements  apply  to  all  incidental  accounts. 

Exercises  for  Incidental  Accounts 

EXERCISE    1 

An  Account  with  Interest 

Suggestion  to  the  Teacher.  If  it  is  desired  to  make  this 
also  an  exercise  in  computing  interest,  designate  a  rate  and 
let  each  principal  be  computed  by  it.  The  interest  will 
then  be  different  from  the  amounts  given. 

March,  1917. 

1.  Paid  H.  F.  Bradley  for  6  months  ending  to-day  on  note  of  $440, 
dated  September  1,  1916,  $15.30. 

6.  Paid  R.  S.  Fulton  for  one  year  ending  March  4  on  note  of  $325, 
dated  March  4,  1915,  $19.80. 

7.  John  Wilson  paid  me  for  6  months  ending  to-day  on  note  of  $76.50, 
dated  March  7,  1916,  $3.20. 

AprU,  1917. 

10.  Paid  L.  L.  Bushey  for  6  months  ending  to-day  on  note  of  $215, 
dated  October  10,  1916,  $8.80. 

15.  H.  M.  Bain  paid  me  for  one  year  ending  April  13  on  note  of  $175, 
dated  April  13,  1914,  $10.24. 

26.  Paid  A.  M.  Black  for  6  months  ending  to-day  on  note  of  $325, 
dated  October  26,  1916,  $13.48. 

May,  1917. 

10.  Paid  J.  C.  Caney  for  90  days  on  note  of  $245,  dated  February  9 
and  due  to-day,  $5.12. 


76  EVERYDAY  BOOKKEEPING 

May,  19—. 

16.  J.  K.  Henry  paid  me  for  60  days  on  note  of  $920,  dated  March  16 
and  due  to-day,  $9.51. 

31.  Determine  loss  or  profit,  foot  and  rule  the  account.  Unpaid  inter- 
est due  person  keeping  the  account,  $20.     Unpaid  interest  due  others,  $15. 

EXERCISE   2 

An  Account  with  Expenses 
October,  19—. 

1.   Bought  hat,  $1.75. 

4.   Bought  pocket  knife,  60c. 

7.   Spent  at  social,  40c. 
10.   Bought  book,  50c. 
12.   Street  car  fare,  10c. 

15.   Sold  to  John  Green  the  knife  bought  the  4th,  60c.    (Credit  expense.) 
18.   Bought  necktie,  25c  ;  collar,  15c  ;  handkerchief,  10c. 
21.   Admission  to  entertainment,  25c. 

28.   Paid  subscription  to  "  Youth's  Companion,"  one  year,  $2. 
31.   Determine  loss,  foot  and  rule  the  account. 

EXERCISE   3 

An  Account  with  Commissions 
September,  19 — . 

3.   H.  A.  Harns  paid  me  for  selling  horse,  $10, 
6.   Received  of  B.  W.  Smith  for  selling  two  lots,  $25. 
9.   Paid  for  advertising  in  "  Daily  Globe,"  $12.50. 
10.   Received  of  S.  M.  Kaylor  for  selling  house,  $120. 
14.   Received  of  J.  M.  Rankin  for  renting  house,  $3.50. 
18.   Paid  John  Wilson  part  of  commission  received  of  S.  M.  Kaylor 
on  the  10th  and  due  him,  $30. 

20.  Paid  for  stationery  and  postage,  $4.30. 

21.  J.  H.  Harvey  paid  me  for  selling  house,  $12. 
24.   Received  of  A.  B.  Russ  for  renting  house,  $2.50. 

28.   Received  of  W.  C.  Ardrey  for  selling  wagon  and  harness,  $5. 
30.   Determine  loss  or  profit,  foot  and  rule  the  account. 

EXERCISE   4 

An  Account  with  Pasturing  Cattle 

Write  up  an  account  from  the  following  suggestions: 
Rent  a  pasture  for  a  certain  sum  per  month  for  the  season 


INCIDENTAL  ACCOUNTS  77 

of  good  grass,  paying  the  rent  monthly.  Take  in  cattle  at  a 
certain  rate  per  head  per  month,  collecting  rents  monthly. 
Part  of  the  cattle  are  milch  cows.  Pay  a  boy  for  collecting 
and  returning  these  morning  and  evening.  Allow  some 
expense  for  caring  for  cattle,  as  salting,  etc.  You  are  to 
make  needed  repairs  on  fence.  Include  other-  items  that 
may  occur  to  you.     Determine  loss  or  profit. 

EXERCISE    6  ' 

Account  with  Opening  Riverview  Addition 
April,  19—. 

1.   Paid  office  rent  one  month,  $10  ;  paid  for  sign  boards,  $7. 

3.  Paid  for  circulars,  $2  ;  paid  for  distributing  circulars,  $3. 

4.  Paid  for  advertisements,  $10. 

5.  Bought  horse  and  buggy,  $150. 

6.  Bought  2  bu.  corn  at  60c. 

8.  Received  for  commissions  on  lots  sold,  $100. 

9.  Paid  for  rent  of  stable  for  two  weeks  at  $1.50. 
10.   Paid  for  telephone,  $2. 

12.  Received  for  commission,  $75. 

13.  Paid  for  advertisements,  $8.     Received  for  commissions,  $20. 
18.   Bought  3  bales  of  hay  at  30c. 

20.   Received  for  commission  on  eight  lots  sold,  $200. 
30.   Bought  2  bu.  oats  at  60c. 

May,  19—. 

1.  Paid  office  rent  till  May  31,  $10. 

2.  Paid  for  telephone,  $2.     Received  for  commission  on  two  cash 
sales,  $60. 

5.  Paid  for  advertisements,  $25. 

6.  Received  for  commissions,  $80. 

10.  Received  for  commissions  on  balance  of  lots  sold,  $150.  Sold 
horse  and  buggy  for  $100. 

10.   Determine  the  profit,  foot  and  rule  the  account. 

Suggestion.  Write  other  accounts.  Suggested  titles: 
pasture  (you  being  the  owner  and  taking  in  stock),  storage, 
rents,  advertising,  labor,  building  a  house  at  216  Washington 
Avenue  (you  being  the  contractor),  etc. 


CHAPTER  IX 

RECEIPTS 

A  receipt  is  a  written  acknowledgment  of  the  payment  of 
a  debt. 

Illustrations  of  Receipts 

To  Apply  on  Account 


f  30.00  Buffalo,  JV.Y.,  four..  10,  19^. 

Received  of^.^.^.^^jali'yv  /if,   ^cutkaun,-^^.^^^^^^-..^^^.^^-^-^^^^-^^--. 

to  a.ja/^tu  on  cuM-ou'nZ. 


In  Full  of  Account 


^f 28.^3  Buffalo,  JY.Y.,  fcun.  /O,  19... 

Received  of^.^.^..^RcMfy}i.ond  V  ^'wtv-^x.-^^^^.^^^^^...^..-^^.^^.^^.^ 

iyyv  yictt  ot  a/s^SAyumt  to  ciaZ&. 

78 


RECEIPTS  79 

Payment  on  Note  ^ 


f/ 26.00 

Received  o/^^^^^^^^/g', 

^0-1.  jawb  Attndv&d  avx,ty 

Buffalo,  J^.Y. 

lit:   n'vi^I  oo.,^______ 

,  fa.'yv. 

20,  19.  _. 

7-k_77      _-_ 

lUU 

dattoAj^,  js.a.ifaM't&  to-  'yyvuQyM. 

m.  f.  ^avda'yv. 

Exercise  for  Writing  Receipts 

1.  J.  M.  Russell  received  of  W.  R.  Green  $18  in  payment  of  rent  of 
house  at  118  Forest  Avenue  for  month  of  June.     Date,  July  1,  1917. 

2.  Give  B.  S.  Wylie  receipt  for  $35  to  apply  on  account.  Use  current 
date  and  your  own  name. 

3.  On  June  15,  1917,  J.  S.  Eversole  gave  R.  M.  Wills  receipt  for 
$125  in  part  payment  of  note  for  $500,  dated  January  20,  1915. 

4.  Dr.  H.  H.  Watson  gave  L.  C.  Downs  receipt  for  $60  for  services 
during  sickness  of  his  son  Robert.    Use  current  date. 

5.  On  July  3,  1917,  W.  S.  Campbell  gave  A.  W.  Hammer  receipt  for 
$18.20  for  interest  for  six  months  ending  July  1,  1917,  on  note  of  $455, 
dated  July  1,  1916. 

6.  Write  other  receipts. 

^  Notation  of  payment  on  a  note  should  also  be  made  on  the  back  of 
the  note. 


CHAPTER  X 


BILLS  OR  INVOICES 

A  hill  or  invoice  is  a  statement  of  indebtedness.  The 
indebtedness  may  be  for  services  rendered  or  for  articles 
purchased.  If  it  is  for  articles  purchased,  it  should  con- 
tain a  list  of  the  articles,  the  quantity  and  price  of  each, 
the  entire  cost,  and  the  date. 

A  Form  of  Bill 
Kansas  City,  Mo.,      C^^^-V^rW^/^,     19 /<^.. 

BOUGHT  OF  ^   p  Ward  &  Company 


7-o^y^.^. 


c^^^-rz-'r:?  ^^ 


AM 


ZJ^\ 


£L 


^.%r^. 


'^.^^^ 


44/-^ 


2^: 


y  ^^'ZZ'^yf, 


^^^^y 


Asj, 


Z^ 


(r?  --^^y.   /^V^^-^^^^TH^-^ 


/7-,d^ 


AS4 


3_ 


^ 


^-  ^-TT- 


yy 


/7^ 


2^ 


Oi^ 


lA 


2^ 


^,^^.^^A~f. 


l^^^/j-^. 


'^.^^'7^y7.,€-'7^. 


-^ 


^^ML^^^^: 


^.^y^r^.^ 


80 


BILLS  OR  INVOICES 


81 


Exercises  for  Writing  Bills 

Procure  or  rule  bill  forms.  Perhaps  you  can  secure  them 
from  a  printing  office.  Make  out  bills  for  the  following  and 
receipt  them.  Use  your  own  name  for  buyer,  and  as  seller 
some  firm  that  deals  in  the  kind  of  goods  given.  Use  current 
date. 


1.     3  lb.  rice  at  8|c. 
10  lb.  sugar  at  6c. 

2  lb.  coffee  at  40c. 

3.   20  lb.  nails  at  4c. 
6  pair  hinges  at  15c. 

3  doz.  screws  at  10c. 
8  bolts  at  3c. 

5.     2  baskets  plums  at  30c. 

3  boxes  strawberries  at  12ic. 
1  doz.  bananas  at  15c. 
I  doz.  oranges  at  35c. 

7.   10  peach  trees  at  30c. 
15  apple  trees  at  35c. 
6  pear  trees  at  60c. 
5  plum  trees  at  50c. 


2.     5  spools  thread  at  4c. 
8  yd.  calico  at  6|c. 
12  yd.  lace  at  20c. 

4.   20  bu.  corn  at  55c. 
15  bu.  oats  at  50c. 
4  bales  straw  at  45c. 
8  bales  hay  at  $1.10. 

6.     5  sacks  cement  at  70c. 
10  bu.  sand  at  7c. 
12  bu.  grit  at  6c. 
2  bu.  lime  at  50c. 

8.  Write  other  bills  and  receipt 
them,  using  as  seller 
your  name,  and  for  buyer 
any  name. 


CHAPTER  XI 
STATEMENTS 

Many  persons  fail  financially,  and  many  others  do  not 
make  any  financial  headway.  One  cause  of  this,  it  is  be- 
lieved, is  that  these  people  never  make  any  systematic  ex- 
amination of  their  financial  condition.  Every  one  owes  an 
obligation  to  himself  and  usually  to  others;  therefore,  he 
should  make  an  honest  effort,  in  all  possible  ways,  to  better 
his  condition.  One  of  the  simplest  ways  of  determining 
one's  financial  progress  or  failure  is  by  means  of  statements 
made  at  regular  intervals.  These  intervals  should  not  be 
greater  than  a  year.  If  carefully  done,  this  will  aid  much 
in  showing  whether,  upon  the  whole,  an  advance  has  been 
made.  It  may  not  show  the  source  of  the  leaks  or  of  the 
gains.  But  it  is  much  better  than  nothing,  and  it  is  a  com- 
paratively simple  process.  A  single  statement  is  not  suffi- 
cient to  show  the  progress.  But  if  one  is  made  and  pre- 
served and  at  the  end  of  a  year,  say,  another  is  made,  a 
comparison  of  the  two  will  show  the  advance  or  decline. 

In  making  statements  estimates  must  be  put  on  many 
items.  This  is  particularly  true  in  case  of  the  farmer.  But 
making  these  estimates  educates  the  judgment.  This  of 
itself  is  an  important  gain.  In  making  statements  it  is  pref- 
erable to  select  a  time  of  the  year  when  the  movable  prop- 
erty is  at  its  lowest.  And  in  making  estimates  of  property 
on  hand  it  is  usually  better  to  underestimate  the  value  than 
to  overestimate  it. 

In  this  connection  it  is  convenient  to  use  a  few  new  terms, 
definitions  of  which  are  given  here. 

Assets  or  resources  include   everything   belonging   to   a 

82 


STATEMENTS  83 

person  (or  concern),  such  as  real  estate,  houses,  household 
goods,  stock,  money,  etc.  It  also  includes  sums  due  him, 
whether  on  notes,  account,  or  otherwise. 

Liabilities  or  debts  include  everything  which  a  person  (or 
concern)  owes  to  others  on  notes,  account,  or  otherwise;  or 
they  include  the  monetary  obligations  to  others. 

The  present  worth  of  a  person  (or  concern)  is  what  he  is 
actually  worth  at  the  time  in  question.  One  way  of  finding 
it  is  to  subtract  the  liabilities  from  the  assets.  If  a  person 
has  property  and  other  valuables  worth  $1500  and  owes  $300, 
his  actual  or  present  worth  is  $1200. 

The  present  investment  of  a  person  (or  concern)  is  the 
amount  that  is  invested  in  a  particular  business  at  the  time 
in  question.  It  implies  th-at  this  investment  includes  only  a 
part  of  the  assets  of  the  given  person  or  concern. 

Insolvency  is  the  condition  in  which  the  liabilities  exceed 
the  assets. 

A  loss  is  the  excess  of  the  cost  over  the  selling  price,  or  a 
decrease  in  value.  It  includes  also  all  outlays  incidental 
to  the  conducting  of  a  business. 

A  profit,  or  a  gain,  is  the  excess  of  the  selling  price  over  the 
cost,  or  an  advance  in  value.  It  includes  also  any  returns 
for  services  rendered. 

A  statement  is  an  exhibit,  in  a  convenient  form,  of  the 
principal  facts  of  a  business,  or  of  some  phase  of  a  business. 
The  details  of  its  arrangement  depend  upon  the  information 
it  is  desired  to  make  prominent.  The  sources  of  the  material 
for  statements  will  depend  upon  the  manner  of  keeping  the 
books. 

An  inventory  is  a  list  of  articles  on  hand  at  a  given  time 
with  their  respective  value.  These  values  are  generally 
computed  at  the  cost  price  unless  the  selling  price  is  lower 
than  the  cost,  in  which  case  the  selling  price  is  the  basis  for 
the  inventory.     If  the  inventory  is  of  such  articles  as  imple- 


84 


EVERYDAY  BOOKKEEPING 


ments,  machinery,  furniture,  etc.,  as  are  in  use,  the  value 
should  be  less  than  cost  and  should  be  made  less  each  year, 
depending  upon  the  rapidity  with  which  the  articles  depre- 
ciate in  value. 


Illustration  of  Statements 


-Si^^?^^^^^^Z^7^?^L,^.<ri^^^t?^ 


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0~7-V^ 


O  0 

2-J\ 
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o 
o  o 
o  o 
Zo 
o_o_ 


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^  These  statements  have  been  adapted  from  The  Farmer's  Handbook 
by  Isaac  P.  Roberts  of  Cornell  University,  published  by  The  Macmillan 


STATEMENTS  85 

It  is  not  necessary  to  have  a  ruled  book  or  a  ruled  sheet 
for  these  statements.  A  blank  page  will  serve  the  purpose. 
The  next  statement,  taken  a  year  later  than  the  preceding, 
is  shown  without  rulings. 

Statement  of  Assets  and  Liabilities 


Taken  April  1, 

1916. 

ASSETS 

Value  of  farm,  including  buildings 

$4000.00 

Teams 

490.00 

Live  stock 

620.40 

Farm  tools 

350.00 

Farm  products 

40.00 

Household  goods 

650.00 

Due  me  on  notes 

259.25 

Cash  on  hand  and  in  hank 

63.20 

Total  assets 

$6472.85 

T,T  ABILITIES 

Mortgage  on  farm  unpaid 

$  325.00 

Due  others  on  account 

38.20 

Total  liabilities 

363.20 

Present  worth 

6109.65 

Present  worth  April  If  1915 

5352.75 

Net  profit  for  year  ending  April  1 

,  1916 

$  756.90 

To  obtain  the  amount  of  each  item  in  the  foregoing  state- 
ments it  is  necessary  to  make  a  detailed  statement  (or  inven- 
tory) for  each  item. 

Without  such  statements  as  the  preceding,  the  person 
whose  financial  condition  they  represent,  might  think  that 
but  little  gain  had  been  made,  especially  as  the  cash  on  hand 

Company.     Persons  interested  in  rural  affairs  will  find  many  valuable 
suggestions  in  this  book. 


86  EVERYDAY  BOOKKEEPING 

at  the  end  of  the  period  is  small.  This  fact  without  the 
statements  might  be  discouraging.  However,  these  state- 
ments show  that  substantial  payments  have  been  made  on 
the  mortgage.  And  the  detailed  statements  would  show  that 
a  $250  piano  had  been  bought  and  paid  for  during  the  year, 
and  that  a  carriage  had  been  added  to  the  farm  tools. 

It  is  true,  these  statements  do  not  show  the  sources  of 
the  profits.  These  may  have  come  from  grain  harvested 
and  sold  between  the  time  of  the  two  statements,  or  from 
hogs  raised  and  sold,  or  from  cattle  bought,  grazed,  fattened, 
and  marketed.  But  the  statement  is  an  important  step  in 
the  right  direction. 

Incidentally  it  may  be  said  that  in  a  large  business  in 
which  the  system  of  keeping  the  records  is  thoroughly 
organized,  the  statement  is  an  important  factor. 

Exercises  for  Statements 

Suggestion.  If  necessary,  re-read  the  definitions  of  assets 
and  liabilities.  In  each  exercise  after  the  first  one  the  assets 
and  liabilities  are  given  miscellaneously,  thus  making  it 
necessary  to  classify  them.  With  the  second  statement  of 
each  exercise  show  the  loss  or  the  profit.     Make  statements. 

EXERCISE    1 

A  person's  assets  January  1,  1916  were  :  house  and  lot  valued  at 
$1200;  household  goods,  $620;  horse  and  carriage,  $225;  due  from 
John  Wilson  on  note,  $280 ;  cash  on  hand  and  in  bank,  $156.25.  His 
liabilities  were  :  owed  William  Ramsey  for  painting  house,  $50  ;  owed 
on  house  and  lot,  $325. 

On  January  1,  1917  the  assets  and  Habilities  were  :  Assets  :  house 
and  lot  valued  at  $1300  ;  household  goods,  $650  ;  horse  and  carriage, 
$200  ;  due  from  John  Wilson  on  note,  $200  ;  cash  on  hand  and  in  bank, 
$208.40.  Liabilities  :  owed  on  house  and  lot,  $75  ;  owed  grocery  bill, 
$20. 


STATEMENTS  87 


EXERCISE   2 


On  June  30,  1913,  John  A.  Kennedy,  a  teacher,  found  his  assets  and 
liabilities  to  be  as  follows  :  cash  in  bank,  $128.60  ;  two  houses  and  lots 
valued  at  $1000  and  $1500  ;  owed  on  mortgage,  $420  ;  notes  against 
others,  $325  ;  4  shares  bank  stock  with  surplus,  $420  ;  owed  on  bank 
stock,  $100  ;  cash  value  of  life  insurance,  $428  ;  household  goods,  $320  ; 
Hbrary,  $125. 

On  June  30,  1914,  his  assets  and  liabilities  were  :  cash  in  bank,  $184.65,; 
two  houses  and  lots  valued  at  $1000  and  $1500  ;  notes  against  others, 
$400  ;  4  shares  bank  stock  with  surplus,  $440  ;  cash  value  of  life  insur- 
ance, $463.20  ;  household  goods,  $350  ;  library,  $150  ;  one  lot  valued  at 
$175  ;  owed  on  lot,  $100  ;  interest  due  him,  $10  ;  due  him  on  account,  $60. 

EXERCISE   3 

J.  A.  Harmon  was  engaged  in  the  real  estate  and  rental  business.  On 
December  31, 1914,  his  books  showed  the  following  :  cash  on  hand,  $864.32 ; 
owed  to  owners  of  houses  on  rents  collected,  $150.25  ;  due  liim  on  com- 
missions for  selling  property,  $128  ;  notes  held  against  others,  $240  ; 
interest  due  him  on  notes,  $38.20. 

December  31,  1915,  his  books  showed  the  following  :  cash  on  hand, 
$628.47  ;  owed  to  owners  of  houses  on  rents  collected,  $80.50  ;  due  him 
on  commissions  for  selling  property,  $340.50  ;  notes  held  against  others, 
$375  ;  interest  due  him  on  notes,  $54.30  ;  horse  and  buggy,  $225  ;  owed 
on  office  rent,  $15. 

EXERCISE   4 

The  boolcs  of  Hiram  Maxwell,  a  grocer,  showed  the  following  Decem- 
ber 31,  1913  :  cash  on  hand,  $543.78  ;  owed  others  on  accoimt,  $347.20  ; 
owed  rent  of  store,  $40  ;  owed  clerks,  $60  ;  value  of  stock  of  groceries, 
$840.20  ;  due  him  on  notes,  $378  ;  furniture  and  fixtures,  $100  ;  horse 
and  wagon,  $175. 

December  31,  1914,  his  assets  and  liabilities  were  :  cash  on  hand, 
$628.90  ;  owed  others  on  account,  $142.90  ;  owed  clerks,  $40  ;  value 
of  stock  of  groceries,  $1058.75  ;  due  him  on  notes,  $425  ;  furniture  and 
fixtures,  $475  ;  horse  and  wagon,  $150. 

Note.  In  Exercises  5-8  material  is  given  for  only  one 
statement.     The  loss  or  the  profit  may  be  obtained  by  com- 


88  EVERYDAY  BOOKKEEPING 

paring  the  present  worth  at  the  end  of  the  period  with  the 
amount  invested  at  the  beginning  of  the  period. 

EXERCISE    5 

John  Wilson  began  business  with  a  capital  of  $1200.  At  the  end  of  a 
certaia  period  liis  books  showed  the  following  :  Cash  on  hand,  $1000. 
Merchandise  on  hand,  $600.  Value  of  real  estate,  $900.  J.  R.  Dillon  owed 
him  on  account,  $500.  He  owed  W.  M.  Steele  on  account,  $700,  and  R.  S. 
Colvin  on  account,  $705.     He  also  owed  on  notes  outstanding,  $350. 

EXERCISE    6 

W.  A.  Lyman  commenced  business,  making  an  investment  of  $3200. 
At  the  end  of  a  certain  period  his  books  showed  the  following  facts  ; 
L.  M.  Black  owed  him  on  account,  $400.  W.  S.  Jones  owed  him  on  ac- 
count, $200.  He  owed  R.  S.  Crane  on  account,  $315.  Merchandise  on 
hand,  $950.  Real  estate  valued  at  $900.  Cash,  $800.  Notes  on  hand, 
$600. 

EXERCISE   7 

D.  C.  Crum  began  business,  making  an  initial  investment  of  $1000. 
At  the  end  of  a  certain  period  his  books  showed  the  following  :  Mer- 
chandise on  hand,  $400.  John  Kelly  owed  him  on  account,  $300,  and 
Henry  Gibson  owed  him  on  account,  $50.  He  owed  on  account  to  D.  C. 
Ardrey,  $300,  and  to  Charles  Hastings,  $40.  There  was  due  him  on  notes, 
$100,  and  he  owed  on  notes,  $125.  He  had  other  items  of  value  amount- 
ing to  $290. 

EXERCISE   8 

W.  S.  Dunn  began  business,  investing  $2400.  At  the  end  of  a  certain 
period  his  books  showed  the  following  :  Merchandise  on  hand,  $500. 
Value  of  real  estate,  $900.  Cash,  $300.  Notes  on  hand,  $500.  He 
owed  on  account  as  follows  :  Samuel  Harper,  $20.70  ;  W.  S.  Lambert, 
$450.  There  was  due  him  from  the  following  on  account  :  D.  S.  Brown, 
$500  ;  L.  E.  West,  $374.75. 

Suggestion.     Make  up  other  statements. 

EXERCISE    9 

Make  a  statement  (or  inventory  as  it  maybe  called)  of  all  the 
articles  in  your  home,  using  the  following  as  a  suggested  form. 


STATEMENTS 


89 


Inventory  of  Household  Goods 

November  1,  19 — 


Furniture 

1  Dining  Room  table 
6       "          "      chairs  at 
4  Parlor  chairs  at 
Total  furniture 

L76 
2.50 

9 
10 
10 

00 
60 
00 

29 

50 

Utensils 
1  Washing  machine 
1  Ironing  board 
1  Cook  stove 

Total  utensils 

8 
20 

00 
75 
00 

28 

75. 

Clothing 

Library- 

Other  items 

Total 

EXERCISE    10 


Make  an  inventory  of  all  the  articles  in  the  home  that 
are  considered  yours  personally.  This  will  show  how  much 
you  are  indebted  to  your  parents  for  your  present  belongings. 


EXERCISE    11 

If  you  live  on  a  farm,  make  an  inventory  of  everything 
outside  of  the  home,  classifying  the  items  under  appropriate 
headings.  This  statement,  with  that  of  Exercise  9,  will 
give  part  of  the  information  for  the  assessor  when  he  calls. 


CHAPTER   XII 
DOUBLE   ENTRY 

In  all  of  the  previous  work  an  account  has  been  kept  with 
only  one  person  or  item  at  a  time.  But  every  transaction 
affects  at  least  two  accounts.  And  in  a  complete  system 
of  bookkeeping  a  record  is  made  in  each  of  these.  If  there 
are  but  two  accounts  affected,  the  entry  in  one  is  a  debit 
and  in  the  other  a  credit  for  the  same  amount.  In  any 
case  the  debits  and  the  credits  are  equal.  This  method  of 
keeping  accounts  is  known  as  double  entry  bookkeeping. 
To  make  the  system  complete  by  this  method,  it  is  necessary 
to  have  an  account  with  the  proprietor  or  to  have  some 
account  representing  him. 

In  commercial  bookkeeping  there  are  two  fundamental 
books  used,  the  journal  and  the  ledger.  In  the  journal  the 
items  of  a  transaction  are  classified  with  respect  to  the 
debits  and  credits  and  accompanied  with  an  explanation  of 
the  transactions.  The  debits  and  credits  are  then  trans- 
ferred to  the  proper  accounts  in  the  ledger.  It  is  customary 
also  to  use  a  cash-book  in  which  is  kept  a  record  of  cash 
transactions.  If  the  business  is  an  extensive  one,  other 
books  such  as  the  invoice  book,  the  sales  book,  etc.,  are  added 
to  facilitate  the  handling  of  the  accounts.  But  any  book 
which  may  be  added  is  only  a  modification  of  the  journal. 
The  methods  of  arranging  the  records  in  commercial  book- 
keeping are  necessarily  different  from  those  illustrated  in 
this  book.  But  the  principles  governing  the  debits  and  the 
credits  are  the  same. 

90 


DOUBLE  ENTRY  91 

THE  PROPRIETOR'S  ACCOUNT 

In  the  proprietor's  account  are  entered  the  assets  and 
liabihties  when  opening  a  set  of  books,  any  subsequent 
investments  or  withdrawals,  and  the  loss  or  the  profit  at 
such  intervals  as  may  seem  desirable. 

Rule  for  Debiting  and  Crediting  the  Proprietor 

Debit  the  proprietor  for  his  liabilities  when  opening  his 
books,  for  anything  he  withdraws  from  the  business,  and 
for  his  losses;  credit  him  for  his  assets  when  opening  his 
books,  for  any  subsequent  investments,  and  for  his  profits. 

Instead  of  debiting  the  proprietor  for  his  liabilities  and 
crediting  him  for  his  assets  when  opening  his  books,  he  may 
be  credited  for  their  difference,  —  that  is,  for  the  present 
worth. 

Compare  the  proprietor's  account  on  page  92  with  that 
on  page  98. 

Note.  The  numbers  1,  2,  3,  4,  etc.,  above  tbe  titles  of  the  accounts  in- 
dicate page  1,  page  2,  page  3,  page  4,  etc.,  of  the  account  book.  The  num- 
bers in  tho  narrow  column  at  the  left  of  the  money  columns  indicate  the 
page  of  the  account  in  which  the  opposite  entry  is  made. 

THE  LOSS  AND  PROFIT  ACCOUNT 

This  is  an  account  into  which  the  losses  and  the  profits 
are  collected  from  the  other  accounts  showing  them.  As  a 
general  rule,  the  loss  and  profit  account  is  debited  or  credited 
only  with  the  balances  of  the  various  accounts  which  show  a 
loss  or  a  profit,  such  as  interest,  merchandise,  expense,  dis- 
count, commission,  live-stock,  grain,  salaries,  etc.  Occa- 
sionally it  has  a  loss  charged  directly  to  it  as  in  the  case  of  a 
heavy  loss  being  caused  by  fire.  Also  it  may  be  credited 
directly  for  a  profit  that  arises  from  a  source  other  than  the 
customary  ones. 


92 


EVERYDAY  BOOKKEEPING 


Rule  for  Debiting  and  Crediting  Loss  and  Profit 

Debit  ]  I  losses. 

I  the  loss  and  profit  account  for  all  | 
Credit  J  [  profits. 

Note.  Beginning  on  this  page  there  is  a  short  set, 
including  the  proprietor's  account,  written  by  the  double 
entry  method.  Beginning  on  page  98  the  same  set  is  re- 
peated, including  the  loss  and  profit  account. 


Illustrative  Exercises 


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EVERYDAY  BOOKKEEPING 


THE  TRIAL  BALANCE 

In  a  complete  system  of  bookkeeping  every  time  a  person 
or  an  item  is  debited  some  other  person  or  item  is  credited 
for  the  same  amount.  Hence,  the  sum  of  the  debits  always 
equals  the  sum  of  the  credits. 

The  trial  balance  is  an  exhibit  of  the  debit  and  the  credit 
footings  of  each  account  to  determine  whether  the  sums  of 
these  footings  are  equal.  If  they  are  equal,  usually  it  is 
taken  as  evidence  that  no  entries  have  been  omitted.  Trial 
balances  may  be  taken  at  such  times  as  may  be  desired. 
The  following  is  a  trial  balance  of  the  preceding  accounts 
on  April  30,  1916.  The  numbers  1,  2,  3,  5,  6,  7  in  this  trial 
balance  indicate  the  pages  of  the  account  book  on  which 
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FINDING  THE  PRESENT  WORTH 

In  Chapter  XI  there  was  given  a  method  of  finding  the 
present  worth.  But  in  double  entry  bookkeeping  there  is" 
another  method.     It  consists  in  finding  the  net  loss  or  the 


DOUBLE  ENTRY  97 

net  profit  and,  if  a  loss,  deducting  it  from  the  worth  at 
beginning  as  shown  by  the  proprietor's  account  or,  if  a 
profit,  adding  it  to  the  worth  at  beginning.  The  net  loss  or 
net  profit  is  found  by  collecting  the  losses  and  the  profits  from 
the  accounts  showing  them  into  the  loss  and  profit  account, 
and  finding  the  difference  between  the  two  sides  of  this  ac- 
count. This  difference  is  then  transferred  to  the  proprietor's 
account.  Finally  the  difference  between  the  two  sides  of  the 
proprietor's  account  is  found.     This  is  the  present  worth. 

The  set  on  pages  92-95  is  reproduced  on  pages  98-99  with 
the  addition  of  the  necessary  entries  to  make  the  proprietor's 
account  show  his  present  worth.  A  comparison  of  the  two 
will  show  these  additional  entries.  Notice  particularly  that 
these  entries  are  placed  in  the  opposite  columns  of  the  two 
accounts  affected.  This  keeps  the  accounts  as  a  whole 
always  in  balance. 

The  items  that  would  be  brought  below  the  rulings,  if  the 
record  were  continued,  are  shown  in  the  following  illustra- 
tion. The  accounts  with  cash,  with  notes  receivable,  and 
with  John  Campbell  have  not  been  disturbed  because  they 
do  not  show  losses  or  profits. 

In  the  proprietor's  account  on  page  98  is  shown  a  different 
arrangement  for  the  opening  entry.  Compare  this  with  the 
corresponding  account  on  page  92. 

EXERCISE 

From  the  following  data  find  the  present  worth  (1)  by  getting  the 
profit  and  adding  it  to  the  worth  at  first ;  (2)  by  taking  the  difference 
between  the  assets  and  liabilities. 

Worth  at  a  certain  time,  $1500.  At  the  end  of  a  certain  period  there 
had  been  paid  for  expenses,  $42.30;  received  for  interest,  $36.90;  re- 
ceived for  pasture,  $12.50 ;  profit  on  hogs,  $135.40 ;  paid  for  taxes,  $18.60. 

Assets:  cash  on  hand,  $32.50;  due  from  Julian  Morrow  on  account, 
$140 ;  implements,  $800 ;  live-stock,  $700 ;  hay,  $60 ;  grain,  $85.  Liabihties : 
due  R.  M.  Bradshaw  on  account,  $193.60. 

H 


98 


EVERYDAY  BOOKKEEPING 


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100  EVERYDAY  BOOKKEEPING 

DIRECTIONS   FOR  WRITING  A   COMPLETE  EXERCISE 

The  following  will  serve  as  a  guide  in  performing  the  work 
of  a  complete  exercise: 

1.  Make  the  record  for  the  first  period  in  the  proper 
accounts. 

2.  Take  trial  balance.  (In  taking  the  trial  balance,  after 
the  first  time  use  the  footings  of  each  account  up  to  the 
double  rulings,  but  use  nothing  above  these  rulings.) 

3.  Cause  the  proprietor's  account  to  show  the  present 
worth.     To  do  this: 

(1)  Enter,  in  red  ink,  anything  on  hand  belonging  to 
property  accounts  and  any  unsettled  items  belonging  to 
incidental  accounts.  (For  convenience  both  of  these  items 
will  be  called  inventories.)  [See  Account  ivith  20  Head  of 
Hogs,  page  36.] 

(2)  Enter,  in  red  ink,  the  loss  or  the  profit  in  each 
account,  and  foot  and  rule  the  account.  [See  Interest, 
page  98.] 

(3)  Transfer  the  loss  or  the  profit  from  each  account  to 
the  loss  and  profit  account,  entering  each  in  black  ink  and 
putting  the  amount  in  the  column  opposite  that  in  which 
the  red  ink  amount  was  placed.  [See  Loss  and  Profit, 
page  99.] 

(4)  Enter,  in  red  ink,  the  net  loss  or  net  profit  in  the  loss 
and  profit  account  and  foot  and  rule  the  account.  [See 
Loss  and  Profit,  page  99.] 

(5)  Transfer  the  net  loss  or  net  profit  to  the  proprietor's 
account,  entering  it  in  black  ink  and  putting  the  amount  in 
the  column  opposite  to  that  in  which  the  red  ink  amount 
was  placed.     [See  account  with  Samuel  Howell,  page  98.] 

(6)  Enter,  in  red  ink,  the  present  worth  in  the  proprie- 
tor's account,  and  foot  and  rule  the  account.  [See  account 
with  Samuel  Howell,  page  98.] 


DOUBLE  ENTRY  101 

4.  Re-open  the  accounts  if  work  is  to  be  continued  for 
another  period : 

(1)  Transfer  the  present  worth  in  the  proprietor's  ac- 
count below  the  rulings,  writing  it  in  black  ink  and  putting 
the  amount  in  the  opposite  column.  [See  account  with 
Samuel  Howell,  page  98.] 

(2)  Transfer  the  inventories,  if  any,  below  the  rulings, 
writing  them  in  black  ink  and  putting  the  amounts  in  the 
opposite  columns.  [See  Interest,  page  74,  and  Labor,. 
page  99.] 

5.  Make  the  record  for  another  period  and  repeat  the  pre- 
ceding steps. 

SET  I.  —  Transactions  for  a  Farmer 

Directions.  In  the  following  exercise  keep  an  account 
with  each  person  and  each  item  involved.  For  each 
account  leave  the  number  of  lines  here  designated:  pupil 
(use  your  own  name  as  proprietor),  25;  live-stock,  40; 
field  and  garden  products,  35;  teams  and  implements,  20; 
expenses,  40;  farm  and  buildings,  12;  cash,  70;  Harvey 
Arnold,  15;  loss  and  profit,  30. 

For  practice,  make  the  proprietor's  account  show  the 
present  worth  on  the  last  day  of  each  quarter. 

As  a  guide  in  performing  the  work  follow  the  directions 
on  page  100. 

January,  19 — . 

1.  PupU  (use  your  own  name  as  proprietor)  opened  set  of  accounts, 
having  the  following  assets  :  farm  and  buildings,  $4000  ;  cash,  $85.75  ; 
live-stock,  $420  ;  field  and  garden  products,  $160  ;  teams  and  imple- 
ments, $560. 

10.   Sold  for  cash  5  head  cattle,  total  weight  4890  lb.,  at  5c. 

15.  Horses,  Ned  and  Kit,  shod  by  Harvey  Arnold,  $1.25.  (Debit 
expense  and  credit  Harvey  Arnold.) 

20.   Bought  for  cash  8  head  hogs  for  $40. 


102  EVERYDAY  BOOKKEEPING 

January,  19 — . 

31.   Sold  during  month  butter  and  eggs  for  cash,  $15.20.     (Live-stock.) 
31.   Paid  in  cash  grocery  bill  for  month,  $9.45.     (Expense.) 

February,  19 — . 

2.  Paid  cash  for  repairs  on  wagon,  $2.75. 

7.  Paid  house  help  in  cash,  $10. 

15.  Sold  for  cash  150  bu.  wheat  at  88c. 

21.  Had  repairs  made  on  buggy  by  Harvey  Arnold,  on  account,  $5.25. 

28.  Sold  for  cash  during  month,  butter  and  eggs,  $18.45. 

28.  Paid  in  cash  during  month  for  meat  and  groceries,  $7.30. 

March,  19—. 

9.   Sold  for  cash  12  head  hogs,  1790  lb.,  at  6|c. 

15.  Sold  Harvey  Arnold  on  account  1  hog,  120  lb.,  at  6c. 

24.  Paid  cash  for  help  on  farm,  $23. 

31.  Determine  the  present  worth.  (See  step  3,  page  100.)  Values  of 
items  belonging  to  different  accounts  are  as  follows  :  farm  and  buildings, 
$4000  ;  live-stock,  $350  ;  field  and  garden  products,  $80  ;  teams  and 
implements,  $560.  There  has  been  no  change  in  the  value  of  farm  and 
buildings  or  in  teams  and  implements  since  January  1.  Hence,  it  is  not 
necessary  to  go  through  the  process  of  balancing  and  re-opening  these 
accoimts  at  this  time. 

April,  19—. 

4.  Had  repairs  made  on  implements  by  Harvey  Arnold  on  account, 
$16.50.  (Before  making  a  record  of  this  transaction  be  sure  that  the  in- 
structions of  step  4,  page  101,  have  been  carried  out.) 

10.   Bought  for  cash,  gang  plow,  $55. 

12.   Bought  for  cash,  milch  cow,  $50. 

18.   Sold  for  cash,  2  calves  for  $13. 

26.   Paid  cash  for  farm  help,  $32. 

30.   Sold  for  cash  during  month,  butter  and  eggs,  $26.50. 

30.  Paid  cash  during  month  for  flour  and  groceries,  $15.90. 

May,  19—. 

7.   Paid  Harvey  Arnold  cash  on  account,  $10. 

16.  Paid  cash  for  help  in  house,  $9. 

25.  Paid  cash  for  permanent  improvements  on  dwelling,  $175.  (Farm 
and  buildings.) 

31.  Sold  for  cash  during  month,  butter,  $21.40. 


DOUBLE  ENTRY  103 

June,  19 — . 

12.   Bought  for  cash  50  bu.  corn  at  50c.     (Field  and  garden  products.) 

20.   Paid  cash  for  repairs  on  harness,  $3.20. 

22.  ■  Paid  cash  for  summer  clothing  for  family,  $22.85. 

25.  Paid  cash  for  farm  help,  $45. 

30.   Sold  for  cash  during  month,  garden  produce,  $21.90. 
30.   Paid  cash  during  month  for  groceries,  $5.80. 

30.  Determine  the  present  worth.  Values  of  items  belonging  to 
different  accounts  are  as  follows  :  farm  and  buildings,  $4150  ;  live-stock, 
$400  ;  field  and  garden  products,  $75  ;  teams  and  implements,  $600. 

July,  19—. 

1.   Re-open  the  accounts.     (See  step  4,  page  101.) 
7.   Sold  for  cash,  9  hogs,  1360  lb.,  at  6c. 
10.   Bought  for  cash,  one  horse,  Dick,  $90. 
20.   Paid  cash  for  help  in  harvesting,  $40. 

26.  Sold  for  cash,  2  steers,  2145  lb.,  at  7c. 

31.  Sold  for  cash  during  month,  garden  produce,  $41.30. 
31.   Paid  cash  for  help  in  house  and  garden,  $12.50. 

August, .  19 — . 

7.   Sold  for  cash,  160  bu.  potatoes  at  45c. 
10.   Sold  for  cash,  5  tons  hay  at  $6.50. 

18.   Had  repairs  made  on  single  trees  by  Harvey  Arnold  on  account,  $1 .60. 
25.   Paid  cash  for  help  in  threshing  wheat,  $21.50. 

28.  Paid  cash  for  threshing  825  bu.  wheat  at  3c. 

31.  Sold  for  cash  during  month,  garden  produce,  $60 ;  butter  and 
eggs,  $22.45. 

September,  19 — . 

5.  Bought  for  cash  set  harness,  $35. 

12.  Sold  for  cash  300  bu.  wheat  at  87c. 

18.  Bought  for  cash  school  books,  $5.30. 

19.  Sold  Harvey  Arnold  on  account  1  ton  hay,  $9.50. 
22.  Sold  for  cash  30  chickens  at  25c. 

29.  Sold  for  cash  during  month,  butter  and  eggs,  $29.70. 

29.  Determine  the  present  worth.  Values  of  items  belonging  to 
different  accounts  are  as  follows  :  farm  and  buildings,  $4150  ;  live-stock, 
$425  ;  field  and  garden  products,  $640  ;  teams  and  implements,  $700. 

October,  19—. 

1.   Re-open  the  accounts. 

3.   Paid  cash  for  farm  help,  $12. 


104  EVERYDAY  BOOKKEEPING 

October,  19—. 

10.   Sold  for  cash  9  hogs,  1080  lb.,  at  5^c. 

13.  Paid  cash  for  insurance  on  house  and  barn  for  5  years  ending 
November  1,  19—,  $15.30. 

19.  Sold  for  cash  250  bu.  wheat  at  83c. 

22.  Sold  for  cash  3  tons  hay  at  $9.50. 

25.  Received  cash  for  pasture,  $18. 

31.   Sold  for  cash  during  month,  butter  and  eggs,  $25.10. 

November,  19 — . 

6.   Sold  for  cash  18  chickens  at  25c. 
10.   Had  tires  re-set  on  wagon  by  Harvey  Arnold  on  accoimt,  $2.50. 

21.  Sold  for  cash  75  bu.  corn  at  52  c. 

23.  Sold  for  cash  bay  horse,  Ned,  $140. 

26.  Paid  cash  for  farm  help,  $28. 

December,  19 — . 

5.  Received  cash  for  boarding  school  teacher,  two  months,  $30. 
(There  being  no  regular  account  for  an  item  of  this  kind,  you  may  credit 
expenses.) 

14.  Paid  taxes  in  cash,  $23.68. 

20.  Paid  Harvey  Arnold  cash  on  account,  $5. 

22.  Bought  for  cash  30  head  hogs,  $85. 
25.   Paid  cash  for  240  bu.  coal  at  8c. 

31.  Determine  the  present  worth.  Values  of  items  belonging  to  differ- 
ent accounts  are  as  follows:  farm  and  buildings,  $4150  ;  live-stock,  $525  ; 
field  and  garden  products,  $650  j  teams  and  implements,  $600.  Balance 
all  accounts,  but  bring  nothing  below  the  rulings.  This  will  leave  the 
accounts  with  a  finished  appearance. 

SET  II.  —  Transactions  for  a  Young  Man 

Suggestion.  This  set  may  be  written  as  one  exercise 
or  it  may  be  made  into  two  separate  exercises.  This  must 
be  decided  before  beginning;  then  space  for  each  account 
may  be  left  accordingly. 

Space  for  Each  Account.  The  number  of  lines  for 
each  account  is  here  given  :  the  first  number  after  the  title  of 
the  account  designating  the  number  of  lines  for  Exercise  1,. 


DOUBLE  ENTRY  105 

if  it  is  written  alone;  the  second  number,  the  number  of  Hues 
for  Exercises  1  and  2,  if  written  together ;  and  the  third  num- 
ber, the  number  of  hues  for  Exercise  2,  if  it  is  written  alone. 

Pupil:  12,  16,  12.  Expense:  25,  45,  20.  Commission: 
12,  12,  0.  Salary:  15,  15,  0.  Board:  0,  15,  15.  Interest: 
5,  8,  5.  Loss  and  Profit:  10,  15,  8.  Cash:  50,  80,  40. 
Notes  Receivable:  10,  12,  6.  W.  S.  King:  5,  5,  0.  J.  W. 
Blair:  5,  5,  0.  J.  V.  Gridley:  8,  8,  5.  J.  S.  Ormsby:  5, 
7,  6.     M.  C.  Evans:  0,  5,  5.     A.  S.  Duncan:  0,  5,  5. 

EXERCISE   1 

May,  19—. 

1.  Pupil  opened  a  set  of  accounts  this  day,  having  cash  on  hand, 
$135.60.  J.  S.  Ormsby  owed  him  on  account,  $35,  and  D.  C.  Colvin 
owed  on  a  note  at  60  days  from  April  20,  19 — ,  $95.  There  was  due  W.  S. 
King  on  account,  $23.60. 

2.  Paid  in  cash  for  board,  $4  ;  for  advertising  for  situation,  $1.25  ; 
for  hat,  $2.75.     (Expense.) 

5.  Bought  of  J.  W.  Blair  suit  of  clothes  on  account,  $16. 

8.  Paid  in  cash  laundry  bill,  90c  ;  for  books,  $2.15  ;  for  ticket  to 
Y.  M.  C.  A.  entertainment,  25c. 

9.  Paid  in  cash  board,  $4  ;  subscription  to  "  Golden  Rule,"  $1. 

10.  Was  employed  by  L.  S.  Wiseman,  a  sewing  .machine  agent,  as 
collector  at  $12.50  per  week  and  an  allowance  of  10%  commission  on  all 
orders  taken.  (No  entry  is  required  for  this.  A  memorandum,  however, 
may  be  made  in  the  cash  account  in  the  same  form  as  an  entry,  but  without 
extending  any  amount  into  the  money  column.) 

15.  Paid  W.  S.  King  cash  for  the  amount  due  him  on  account. 

16.  Paid  board  in  cash,  $4. 

16.  Received  cash  for  commission  on  orders  taken,  $8.40. 

17.  Received  cash  for  week's  salary,  $12.50. 
31.  Paid  board  in  cash,  $8. 

31.  Received  cash  for  two  weeks'  salary,  $25  ;  for  commission  on 
orders  taken,  $17.90. 

June,  19 — . 

6.  Paid  board  in  cash,  $4. 

6.  Paid  J.  W.  Blair  cash  for  amount  due  him  on  account. 

7.  Received  cash  for  week's  salary,  $12.50. 


106  EVERYDAY  BOOKKEEPING 

June,  19 — . 

7.   Paid  cash  for  stamps,  50c  ;  for  stationery,  75c. 

19.  Received  cash  for  note  dated  April  20,  19 — ,  and  for  interest  at 
6%.     [See  May  1.] 

20.  Paid  two  weeks'  board  in  cash,  $8. 

21.  Received  cash  for  two  weeks'  salary,  $25;  for  commission  on 
orders  taken,  $26.45. 

28.   Received  cash  for  week's  salary,  $12.50. 

28.  Paid  in  cash  board,  $4  ;  pew  rent,  $5. 

July,  19—. 

3.   Lent  J.  M.  Bailey  cash  on  his  note  at  90  days,  with  interest  at 
6%,  $125. 

5.   Paid  board  in  cash,  $4. 
5.   Received  cash  for  week's  salary,  $12.50. 
7.   Lent  J.  V.  Gridley  cash  on  account,  $60. 

10.  Bought  for  cash  pair  shoes,  $3.50  ;  1  doz.  handkerchiefs,  75c  ; 
2  collars,  25c. 

18.   Paid  board  in  cash,  $8. 

18.  Received  cash  for  commission  on  orders,  $17.25. 

19.  Received  cash  for  two  weeks'  salary,  $25. 

25.  Lent  J.  V.  Gridley  cash  on  account,  $45. 

26.  Paid  board  in  cash,  $4. 

26.   Received  cash  for  week's  salary,  $12.50. 

August,  19 — . 

1.  Paid  cash  for  board,  $4  ;  for  books,  $3.60  ;  for  charity,  $6.40. 

•    2.  Lent  M.  R.  Strong,  cash  on  note  at  20  days,  with  interest  at  6  %, 
$130. 

5.  Received  cash  for  commission  on  orders,  $31.90. 

10.  Paid  in  cash  excursion  expenses  to  Niagara  Falls,  $15.20. 

14.  Received  cash  for  commission  on  orders,  $24.30. 

16.  Received  cash  for  two  weeks'  salary,  $25. 

22.  Received  cash  of  M.  R.  Strong  for  note  of  2d  inst.  and  for  interest. 
24.  Lent  J.  V.  Gridley  cash  on  account,  $85. 

29.  Paid  three  weeks'  board  in  cash,  $12. 

30.  Received  cash  for  two  weeks'  salary,  $25  ;  for  commission  on 
orders,  $17.40. 

31.  Take  a  trial  balance.  Determine  the  present  worth  by  following 
the  directions  of  step  3,  page  100.  Then,  if  Exercise  2  is  not  to  be  made  a 
continuation  of  Exercise  1,  balance  and  rule  all  accounts  not  involved 
in  the  preceding. 


DOUBLE  ENTRY  107 

EXERCISE   2 

Note.     In  this  exercise  open  an  account  with  Board  and 
enter  board  items  in  it  instead  of  in  the  Expense  account. 

September,  19 — . 

1.  If  this  exercise  is  rjiade  a  continuation  of  Exercise  1,  perform  the 
work  as  directed  in  step  4,  page  101.  Then  omit  all  that  follows  under 
this  date,  passing  on  to  September  4.  If,  on  the  other  hand,  Exercise  2 
is  to  be  written  by  itself,  open  new  accounts,  giving  to  each  the  number 
of  lines  designated  in  the  paragraph  preceding  Exercise  1.  Then  record 
the  following  :  Cash  on  hand,  $102.23  ;  J.  S.  Ormsby  owed  on  account, 
$35  ;  J.  V.  Gridley  owed  on  account,  $190  ;  J.  M.  Bailey  owed  on  note 
dated  July  3  last,  $125. 

4.  Paid  railroad  fare  and  drayage  in  cash,  $7.80.  Entered  school, 
paying  cash  for  tuition,  $12  ;  for  books,  $8.40. 

6.   Bought  for  cash  2  sliirts,  $2  ;  2  pair  cuffs,  40c  ;  3  pair  socks,  50c. 

11.  Paid  Mrs.  Jane  Willowby  cash  for  week's  board,  $3.50. 
18.   Paid  in  cash  initiation  fee  to  Union  Literary  Society,  50c. 
18.   Paid  week's  board  in  cash,  $3.50. 

25.   Paid  cash  for  stamps,  40c  ;  stationery,  50c  ;  paid  board  in  cash, 
$3.50. 

October,  19—. 

1.  Received  cash  of  J.  M.  Bailey  for  note  of  July  3  and  for  interest. 

2.  Paid  week's  board  in  cash,  $3.50. 

8.   Received  cash  of  J.  G.  Ormsby  on  account,  $20. 

12.  Lent  M.  C.  Evans  cash  on  account,  $15. 
16.   Paid  two  weeks'  board  in  cash,  $7. 

30.   Paid  two  weeks'  board  in  cash,  $7. 

November,  19 — . 

6.   Paid  four  weeks'  board  in  cash,  $14. 

10.   Bought  ticket  for  lecture  course,  paying  cash,  $1.25. 

15.   Paid  laundry  bill  in  cash,  $1.40. 

20.   Paid  in  cash  membership  fee  to  Christian  Association  of  school,  $1. 

28.   Bought    for    cash    overcoat,    $13  ;  pair    suspenders,    60c  ;  pair 
gloves,  $1.25. 

30.   Received  cash  of  J.  S.  Ormsby  for  balance  due  on  account. 


108  EVERYDAY  BOOKKEEPING 

December,  19 — . 

3.   Paid  cash  for  tuition  for  second  term,  $11  ;  for  books,  $5.10. 

5.   Received  cash  of  J.  V.  Gridley  on  account,  $25. 

8.   Lent  A.  S.  Duncan  cash  on  account,  $8.50. 
11.   Paid  board  to  date  in  cash,  $7. 

14.   Received  cash  of  M.  G.  Evans  for  amount  lent  him  October  12. 
18.   Paid  laundry  bill  in  cash,  85c. 
20.   Bought  for  cash  pair  skates,  $1.50  ;  stamps,  30c. 
24.   Paid  board  until  end  of  month  in  cash,  $10.50. 

30.  Paid  railroad  fare  and  holiday  expenses  in  cash,  $9.35. 

31.  Take  a  trial  balance.  Determine  the  present  worth  (step  3,  page 
100).    Then  balance  and  rule  the  other  accounts. 

Suggestion.  It  will  be  a  good  drill  for  the  pupil  to  write 
up  an  independent  set  similar  to  the  preceding,  originating 
about  thirty  transactions. 


CHAPTER  XIII 
SPECIAL  COLUMN  BOOKS 

Books  with  special  columns  are  very  convenient  for  many 
purposes.  A  special  column  form  is  one  of  the  labor  saving 
devices  in  bookkeeping,  and  a  great  variety  of  these  forms 
are  in  use  in  commercial  bookkeeping. 

On  the  following  pages  are  given  a  few  illustrations  of 
books  with  special  columns. 

HOUSEHOLD  EXPENSES 

On  pages  110  and  111  is  given  a  suggested  form  for  keeping 
an  account  of  household  expenses.  The  columns  may  be 
footed  at  such  times  as  may  be  desired,  as  once  a  week,  once 
a  month,  or  once  a  quarter. 

With  experience  different  plans  for  the  details  may  be 
worked  out.  In  the  February  portion  a  plan  of  grouping 
the  items  is  illustrated.  In  this  the  numbers  over  the 
amounts  are  the  days  of  the  month. 

Exercise  for  Household  Accounts 

Direction.  Head  the  columns  in  your  account  book 
the  same  as  in  the  illustration.  Then  in  writing  the  exer- 
cise extend  the  amounts  into  the  proper  columns. 

In  actual  practice  any  classification  of  the  items  may  be 
made  to  suit  the  convenience  of  the  person  keeping  the 
account. 

October,  19—. 

1,  Bread,  10c  ;  sugar,  $1  ;  meat,  30c  ;  milk,  6c. 

2.  5  tons  coal  at  $3.75. 

109 


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EVERYDAY  BOOKKEEPING 


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SPECIAL  COLUMN  BOOKS  111 


BENEVOLENCE 

CLOTHING 

DOCTOR  and 
M^ICINE 

AMUSEMENTS 

INSURANCE 

OTHER  ITEMS 

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112  EVERYDAY  BOOKKEEPING 

October,  19—. 

3,   Sack  flour,  $1  ;  meat,  40c. 

3.  Weekly  allowance  to  children,  50c. 

5.  Bread,  10c  ;  meat,  20c  ;  milk,  6c. 

7.  Paper,  ink,  pens,  40c. 

8.  Milk,  12c  ;  potatoes,  $1  ;  crackers,  15c. 

10.  Electric  light  for  month  ending  September  20,  75c. 

10.  Weekly  allowance  to  children,  50c. 

12.  Butter,  30c  ;  pickles,  15c  ;  apples,  40c. 

14.  Gas  bill  for  month  ending  September  25,  75c. 

15.  Suit  of  clothes  for  Herbert,  $8.75. 

16.  Insurance  on  household  goods,  $3.75. 

17.  Chicken,  50c  ;  oatmeal,  10c  ;  vinegar,  25c  ;  bread,  10c. 
17.  Weekly  allowance  to  children,  50c. 

20.  Ribbon  for  Louise,  20c. 

21.  Dozen  eggs,  25c  ;  salt,  10c  ;  pepper,  10c  ;  bread,  5c  ;  milk,  6c. 

23.  Sausage,  15c  ;  bananas,  10c  ;  turnips,  20c. 

24.  Associated  charities  of  city,  $3. 

24.  Steak,  30c  ;  corn  meal,  50c  ;  butter,  35c. 

26.  Weekly  allowance  to  children,  50c. 

27.  4  cans  fruit,  40c  ;  sugar,  $1. 

28.  Repairs  on  rocking  chair,  $1.25. 

30.  Pair  shoes  for  Louise,  $2.50. 

31.  Sausage,  20c  ;  celery,  10c  ;  bread,  10c. 

31.   Foot  each  column  and  rule  as  shown  in  the  illustration. 

November 

In  this  month  short  extend  ^  the  outlays  for  bread,  milk, 
meat,  and  groceries  as  illustrated  in  the  journal  for  Feb- 
ruary. When  the  space  left  for  any  item  is  filled,  extend  the 
total  to  the  proper  column  and  start  another  record  for  that 
item  after  the  last  entry  which  you  then  have. 

November,  19 — . 

2.  Weekly  allowance  to  children,  50c. 
2.   Medicine,  75c. 

^  To  "  short  extend  "  means  to  put  several  amounts  in  the  item  column 
and  extend  the  sum  to  the  money  column. 


SPECIAL  COLUMN  BOOKS  113 

November,  19 — . 

4.  Bread,  10c  ;  milk,  7c  ;  meat,  15c. 

5.  Apples,  75c  ;  potatoes,  $1  ;  butter,  30c. 

6.  Bread,  15c  ;  milk,  14c  ;  meat,  20c. 

7.  Weekly  allowance  to  children,  50c, 

9.   Electric  light  for  month  ending  October  20,  90c. 

10.  Milk,  7c  ;  bread,  10c  ;  sausage  (meat),  15c. 
12.   Gas  bill  for  month  ending  October  25,  $1. 

14.  Sugar,  75c  ;  bananas,  15c  ;  milk,  14c  ;  bread,  10c. 

14.  Weekly  allowance  to  children,  50c. 

16.  Prescription  and  medicine,  $1.25. 

17.  Bread,  10c  ;  butter,  30c ;  salt,  10c. 

20.  Gave  Salvation  Army,  $1.50. 

21.  Expenses  at  entertainment,  50c. 
21.  Weekly  allowance  to  children,  50c. 

23.  Cheese,  20c  ;  steak,  25c  ;  bread,  10c. 

24.  Bought  dishes,  $3.20. 

25.  5  cans  fruit,  45c  ;  milk,  7c  ;  bread,  10c. 

27.  Half  dozen  handkerchiefs,  50c. 

28.  Weekly  allowance  to  children,  50c. 

28.   Chicken,  45c  ;  butter,  35c  ;  bread,  15c  ;  milk,  14c. 
30.   Sack  flour,  $1.30  ;  oranges,  20c  ;  matches,  15c. 
30.   Foot  the  columns  and  rule. 

December 

Suggestion.     Look  over  the  memoranda  for  December 
and  use  your  judgment  as  to  what  items  to  short  extend. 

December,  19 — . 

1.   Bread,  10c  ;  milk,  8c  ;  sugar,  $1. 

3.  Sausage,  15c  ;  potatoes,  $1  ;  bread,  5c. 

4.  Overcoat  for  Herbert,  $7. 

5.  Weekly  allowance  to  children,  50c. 
5.   Bread,  15c  ;  steak,  20c  ;  milk,  16c. 

7.  Pair  skates  for  Herbert,  $1. 

8.  Oranges,  15c  ;  crackers,  20c  ;  cream  of  wheat,  10c. 

11.  Electric  light  for  month  ending  November  20,  90c. 

11.  Milk,  8c  ;  bread,  10c  ;  2  cans  corn,  15c. 

12.  Weekly  allowance  to  children,  50c. 


114  EVERYDAY  BOOKKEEPING 

December,  19 — . 

12.  Chicken,  40c  ;  celery,  10c  ;  crackers,  15c  ;  bread,  10c. 

14.  Gas  bill  for  month  ending  November  25,  $1.25. 

15.  Water  bill  for  November,  70c. 

16.  Barrel  apples,  $2.50. 

17.  Bread,  10c  ;  milk,  8c  ;  pork  chops,  15c. 

18.  Ginger,  15c  ;  cinnamon,  10c  ;  cheese,  15c. 

19.  Allowance  to  children,  $1. 
19.  Muff  for  Louise,  $1.75. 

19.   Sack  flour,  $1.25  ;  butter,  30c  ;  dozen  eggs,  22c. 

21.  Toys    for    Christmas    (amusements),    $2.20  ;     other    Christmas 
presents  (miscellaneous),  $5.80. 

22.  Clothing,  $7.90. 

23.  Butter,  30c  ;  gallon  molasses,  40c  ;  gallon  gasoline,  20c. 

24.  Sweet  potatoes,  50c  ;  veal  roast,  30c  ;  cranberries,  15c  ;  milk,  14c. 
26.   Weekly  allowance  to  children,  50c. 

26.  For  charity,  $2. 

28.  6  cans  fruit,  55c  ;  cabbage,  10c  ;  cheese,  10c. 

28.  Renewed  subscriptions  to  papers  and  magazines,  $5.40. 

29.  Bread,  10c  ;  milk,  7c ;  dozen  eggs,  28c. 

30.  Bottle  cough  medicine,  50c. 

31.  Package  grape  nuts,  15c  ;  salt,  10c  ;  crackers,  15c  ;  sack  flour, 
$1.30. 

31.  Foot  the  columns  and  rule. 


A  Suggested  Exercise 

Determine  the  cost  per  meal  for  each  person  in  your  home. 
To  do  this,  keep  an  accurate  record  for  a  definite  time,  say 
one  week.  First,  give  attention  to  the  cost  of  provision. 
If  any  part  of  this  is  produced  by  the  family,  keep  an  account 
of  it  at  the  market  value.  In  the  second  place,  keep  an 
account  in  hours  of  the  time  spent  in  preparing  the  meals 
and  in  washing  and  putting  away  the  dishes.  If  you  have 
a  servant  in  the  home,  note  the  average  number  of  hours  she 
works  per  day  and  determine  her  wage  per  hour.  If  you 
have  no  servant,  count  your  own  time  at  the  customary 
wages  paid  in  your  locaUty.     Third,  estimate  the  cost  of 


SPECIAL  COLUMN  BOOKS 


115 


fuel  used.  Also  keep  a  record  of  the  exact  number  of  meals 
eaten.  If  any  members  of  the  family  carry  lunches,  count 
each  of  these  as  a  meal.  Arrange  these  items  as  illustrated 
in  the  form  below.  In  this  illustration  the  cost  per  meal  for 
each  item  is  computed  to  the  nearest  tenth  of  a  cent.  The 
illustration  is  supposed  to  represent  one  week  in  which 
seventy  meals  were  served. 

A  boarding  house  keeper  by  making  a  record  of  this  kind 
occasionally,  and  comparing  the  cost  with  the  amount  re- 
ceived, could  determine  the  loss  or  the  profit  on  meals  served. 

Cost  op  Meals  for  One  Week 

(70  Meals  Served) 


Gross  Cost 

Cost 
Per  Meal 

Provision 

Preparation 

Fuel 

Total 

4 
2 

25 
75 
40 

061 
039 
006 

106 

7 

40 

Another  Form  of  Book  for  Household  Accounts 

On  page  116  is  given  another  form  of  book  for  household 
expenses.  If  desired,  the  exercise  beginning  on  page  109 
may  be  written  again,  using  this  form.  If  this  is  done, 
insert,  at  the  proper  places,  the  following  items : 

October,  19—. 

1.   Cash  on  hand,  $9.85. 

1.  Received  from  husband,  $20. 
15.  Received  from  husband,  $15. 
24.   Received  from  husband,  $10. 

November,  19 — . 

2.  Received  from  husband,  $10. 
21.   Received  from  husband,  $10. 


116 


EVERYDAY  BOOKKEEPING 


December,  19 — . 

1.  Received  from  husband,  $15. 
14.  Received  from  husband,  $10. 
20.  Received  from  husband,  $20. 
28.   Received  from  husband,  $10. 


A  Form  of  Book  for  Household  Expenses 


1911 


Jan. 


Feb. 


Cash  on  hand 

Bread,   0.15;    meat,   0.2 

milk,  0.10 
Beceived  from  husband 
Bent  for  January 
Two  tons  coal  @  3.50 
Dress  goods  for  Madella 
Sugar,  1.20  ;  sack  flour,  1. 
Balance  (Red  ink) 


Balance,  cash  on  hand 


CASH 


Rec'd      Paid 


12 


87 


10 


00 


FOR  WHAT   PAID 


Table 


Heat 

AND 

Light 


od 


00 


HOITSE- 
HOLD 


60 


60 


Other 
Items 


20 


00 


00 


A  Special  Column  Cash-Book 

On  pages  118  and  119  is  illustrated  a  form  of  special 
column  cash-book  suitable  for  a  physician.  The  headings 
of  the  columns  may  be  varied  to  suit  the  needs  or  the  de- 
sires of  the  person  keeping  the  account.  And  any  number 
of  special  columns  may  be  used. 


Exercise  for  Special  Column  Cash-Book 

A  Physician's  Cash  Account 

Direction.     Write  up  the  following  exercise  after  the 
manner  illustrated  in  the  cash-book  on  pages  118  and  119  : 


SPECIAL  COLUMN  BOOKS  117 

April,  19—. 

1.   Opened  cash-book  this  day,  having  on  hand  $50. 
1.   Paid  rent  of  office  for  April,  $30. 
3.   Received  of  W.  S.  Picken  for  treatments  in  office,  $15. 
3.   Paid  office  girl  for  week,  $8. 

6.  Received  of  L.  M.  Braley  for  visits  to  son  with  measles,  $12. 

7.  Received  of  Walter  Harris  for  setting  and  treating  broken  ankle, 
$18.     (Surgery.) 

10.   Paid  office  girl  for  week,  $8. 
10.   Paid  telephone  rent,  $3. 

13.   Received  of  Wm.  Lasher  for  treating  his  eyes,  $9.     (Office.) 
15.   Received  of  Dr.  W.  R.  Rose  for  consultation  fee  in  case  of  Mrs» 
J.  C.  Landry,  $10. 

17.   Paid  office  girl  for  week,  $8. 

20.  Received  for  office  prescriptions,  $6.50. 

21.  Collected  for  calls  in  the  following  cases  :    A.  D.  States,  $20  ; 
0.  S.  Carver,  $30  ;  B.  C.  Hastings,  $25. 

23.  Paid  for  repairs  on  electrical  machine,  $3.50. 

24.  Paid  office  girl  for  week,  $8. 

26.  Received  of  R.  M.  Evans  for  amputating  thumb,  $5. 

27.  Received  for  office  prescriptions,  $4.50. 

28.  Paid  for  magazines,  $1.75. 

30.   Foot  all  columns,  balance  and  rule  as  in  the  illustration. 

May,  19—. 

1.   Bring  down  the  cash  balance. 

1.    Paid  rent  of  office  for  May,  $30. 

1.   Paid  office  girl  for  week,  $8. 

3.   Received  of  John  Kelly  for  office  treatments  and  prescriptions,  $8. 

6.   Received  of  Samuel  Bailey  for  attending  daughter  Jennie  with 
typhoid  fever,  $40. 

8.  Paid  office  girl  for  week,  $8. 
10.   Paid  telephone  rent,  $3. 

12.  Withdrew  cash  for  personal  and  family  use,  $50. 

15.  Paid  office  girl  for  week,  $8. 

17.  Bought  rocking  chair  for  office,  $4.50. 

19.  Received  fee  for  removing  splinter  from  John  Wilson's  hand  and 
treating  wound,  $3.     (Surgery.) 

20.  Paid  for  letter  heads,  $1.50. 

22.  Paid  office  girl  for  week,  $8. 


118 


EVERYDAY  BOOKKEEPING 


A  FORM  OF   SPECIAL  COLUMN 
Cash  Received 


1917 

Office 
Practice 

Home 
Calls 

SUKGERY 

Other 
Items 

Jan. 

1 
2 
3 

8 
10 

12 
23 

Opened  cash-book  this  day 

with  cash  on  hand 
John  Gibson  for  examination 

and  treatments 
J.    S.    Wilson    for  calls    on 

daughter     with      typhoid 

fever 
Setting  broken  arm  for  Sam- 
uel Bovard 
Consultation  fee  from  Dr.  J. 

K.  Raney  in  case  of  Wm. 

McLeod 
Treating  Mrs.  A.  R.  Siberts 

for  dropsy 
Collected    for    office    treat- 

10 
15 

00 
00 

30 

00 

10 

'  1 

00 1 

1 

1 

25 

10 

50 
00 

26 

ments  and  prescriptions 
S.  A.  Ballard  for  treating  son 
Karl  for  measles 

Office  practice 
Home  calls 

8 

50 

18 

50 

33 

60 

48 

50 

10 

00 

35 
33 

48 

50 
50 
50 

Surgery 

10 

00 

127 

50 

Feb. 

1 

Balance  on  hand 

64 

35 

May,  19—. 

25.  Bought  mirror  for  office,  $4. 

26.  Made  collections  in  case  of  home  calls  as  follows  :    Uriah  Camp- 
bell, $15  ;  Mrs.  A.  R.  Brown,  $20  ;  L.  K.  Bixby,  $28  ;  R.  C.  Strong,  $17. 

29.   Received  for  prescriptions  and  treatments  in  office,  $13.50. 
31.  Foot,  balance  and  rule  as  on  April  30. 

June,  19 — . 

1.   Bring  down  the  cash  balance. 
1.   Paid  rent  of  office  for  June,  $30. 


SPECIAL  COLUMN  BOOKS 

CASH-BOOK  FOR  A  PHYSICIAN 

Cash  Paid  Out 


119 


191T 

Office 
Help 

Tele- 

PHONE 

Office 
Rent 

Other 
Items 

Jan. 

1 
6 
9 
13 
15 
19 
20 
25 
27 
29 

31 

Rent  of  office  for  January- 
Office  girl 

Stationery  and  stamps 
Office  girl 
Telephone  rent 
Repairs  on  rocker 
Office  girl 
Letter  heads 
Office  girl 
Long  distance  call 

Office  help 
Telephone 
Office  rent 
Balance  {Red  ink) 

7 

7 

7 

7 

00 
00 

00 
00 

3 

00 
40 

25 

00 

2 

2 
1 

25 

76 
75 

28 

00 

3 

40 

26 

00 

6 
28 

3 
25 
64 

75 
00 
40 
00 
35 

127 

60 

June,  19—. 

2.   Paid  light  bill  for  three  months,  $6.40. 
4.   Received  fee  for  helping  to  amputate 


C.  M.  MitcheU's  foot, 


$10. 


5.  Paid  office  girl  for  week,  $8. 

8.  Received  for  treatments  and  prescriptions  in  office,  $8.25. 

10.  Paid  telephone  rent,  $3. 

11.  Bought  drugs,  $15. 

12.  Paid  office  girl  for  week,  $8. 

14.  Bought  magazines  for  office,  $2.25. 


120 


EVERYDAY  BOOKKEEPING 


A   FORM    OF   SPECIAL   COLUMN   CASH-BOOK 

Beceived 


1917 

Poultry 

Garden 

Dairy 

Other 

[tkms  and 

Totals 

July 

1 

Opened  cash-hook  this  day  hav- 
ing on  hand 

18 

60 

2 

15  chickens  @  30^  each 

4 

50 

4- 

50 

7 

22  lb.  butter  @  25  f 

5 

50 

5 

50 

15 

5  doz.  eggs  @  18f 

90 

90 

18 

From  husband 

15 

00 

20 

2  bu. potatoes  @  1.20 

3  doz.  beets  @  15  j^  per  doz. 

2 

40 
45 

(9 

85 

Balance,  cash  on  hand 

5 

40 

2 

85 

5 

50 

47 

35 

Aug. 

1 

10 

55 

i 

; 

June,  19 — . 

18.  Made  collections  on  home  calls  as  follows  :  R.  S.  Spencer,  $40  ; 
B.  C.  Downs,  $32  ;  L.  S.  Bruce,  $27  ;  Mrs.  R.  C.  Cover,  $18. 

19.  Paid  office  girl  for  week,  $8. 

21.   Paid  for  repairs  on  automobile,  $3.75. 
21.   Bought  gasoline,  7oc. 

25.  Received  for  office  practice  and  prescriptions,  $9.25. 

26.  Paid  office  girl  for  week,  $8. 

28.   Withdrew  for  personal  and  family  use,  $50. 
30.  Foot,  balance  and  rule. 

On  the  top  of  this  page  and  on  page  121  is  another  suggestion  of  the 
use  that  may  be  made  of  special  columns  in  the  cash-book.  A  similar 
form  may  be  used  by  the  farmer  himself  by  giving  appropriate  headings 
to  the  special  columns.  For  the  received  (or  debit)  side,  the  special  items 
might  be  cattle,  hogs,  farm  produce ;  and  for  the  paid  (or  credit)  side, 
implements,  repairs,  labor.  There  should  always  be  a  column  for  items 
which  will  not  come  under  any  of  the  special  classes. 


SPECIAL  COLUMN  BOOKS 


121 


SUITABLE    FOR   A   FARMER'S   WIFE 

P<iid 


1917 

Grocee- 

IE8   AND 

Meat 

Clothing 

Help 

Other 
Items  and 
Totals 

July 

5 

12 
15 

19 
20 

26 
31 

18  Ih.  sugar,  1.00;  2  lb.  coffee, 
0.50 

Servant  girl  for  week 

Bocking  chair 

Servant  girl  for  week 

Salt,  0.50;  pepper,  0.25;  gin- 
ger, 0.15 

Pair  of  shoes  for  Leona 

Dress  goods  and  trimmings  for 
Leona,  Madge,  and  myself 

Servant  girl  for  week 

Balance  (Red  ink) 

1 

50 
90 

2 
15 

75 
40 

4 
4 

4 

00 
00 

00 

1 

4 
4 
4 

2 

15 

4 

10 

50 
00 
25 
00 

90 

75 

40 

00 
55 

2 

40 

18 

15 

12 

00 

47 

S5 

1 

The  user  of  any  plan  of  special  columns  must  decide  what  items  should 
have  special  columns.  A  short  list  is  given  here  by  way  of  suggestion: 
Furniture,  utensils,  implements,  machinery,  general  expense,  living  ex- 
pense, farm  expense,  household,  live-stock,  hogs,  cattle,  horses,  grain, 
wheat,  corn,  fruit,  butter,  eggs,  milk,  help,  salary,  library,  board  and 
room,  church  and  benevolence,  luxury,  savings,  interest,  lodge  dues,  com- 
missions, labor,  laundry  and  toilet,  stationery  and  postage. 


INDEX  AND   GLOSSARY 


(The  numbers  refer  to  pages) 


Account  (2)  — A  systematic  arrange- 
ment of  all  the  debit  and  credit 
items  of  a  series  of  transactions 
with  the  same  person  or  pertain- 
ing to  the  same  thing.  Balanc- 
ing, 3  ;  cash,  3 ;  classes  of,  73 ; 
how  kept,  3,  15 ;  incidental,  73  ; 
loss  and  profit,  91 ;  notes,  59 ; 
personal,  26 ;  property,  34 ;  pro- 
prietor's, 91 ;  re-opening,  4  ; 
ruUng,  4;  suggestions  about 
keeping,  23. 

Balancing  an  account,  3. 

Bank,  account  with,  67;  exercise 
for,  67  ;  illustration  of,  69  ;  rule 
for  debiting  and  crediting,  67; 
savings,  70. 

Bill  (80)  —  A  statement  of  indebted- 
ness. A  form  of,  80 ;  exercises 
for  writing,  81. 

Bill-book,  63 ;  a  form  of,  62 ;  exer- 
cise for,  63. 

Bills  receivable,  62  ;   payable,  62. 

Blank  books,  about  forms  and,  1. 

Bookkeeping  —  A  systematic  record 
of  money  transactions.  Double 
entry,  90;  single  entry:  See 
'*  single  entry." 

Capitals,  use  of,  15. 

Cash  (3)  —  A  term  used  to  include 
money,  checks,  money  orders, 
sight  drafts,    etc.,    or   anything 


that  can  be  converted  into 
money  on  demand.  Rule  for 
debiting  and  crediting,  3. 

Cash  account  (3)  —  The  record  of 
cash  transactions.  Balancing, 
3  ;  exercises  for,  6 ;  illustration 
of,  5,  16,  25 ;  suggestions  about 
keeping,  24. 

Cash-book,  special  column,  118, 
120;    exercise  for,  116. 

Check  (64)  —  A  written  order  of  a 
person  on  a  bank  requesting  the 
payment  of  a  specified  sum  of 
money  to  another  person,  or  to 
his  order.  A  form  of,  65  ;  exer- 
cise for  writing,  66. 

Commissions  —  An  allowance  for 
buying  or  selling.  Exercise  for, 
76. 

Credit,  2. 

Creditor  —  One  who  is  owed. 

Debits  and  credits,  2 ;  rule  for 
bank,  67 ;  for  cash,  3 ;  for  inci- 
dental items,  73 ;  for  notes,  58 ; 
for  persons,  27;  for  property, 
32. 

Debtor  —  One  who  owes. 

Debts  (83)  —  See  "  liabilities." 

Deposit  ticket,  68. 

Directions  for  writing  a  complete 
exercise,  100. 

Double  entry  bookkeeping  (90)  — 
A    method    of    bookkeeping    in 


123 


124 


INDEX  AND  GLOSSARY 


which  for  every  debit  there  is 
recorded  an  equal  credit. 

Drawee  (64)  —  The  person  who  is 
requested  in  writing  to  pay 
money  or  to  deliver  goods. 

Drawer  (64)  —  The  person  making 
the  request  for  the  payment  of 
money  or  the  delivery  of  goods. 


See 


indorse- 


Endorsements. 

ments." 
Expenses,    an   account   with,    107; 

household,  109. 

Farmer,  transactions  for  a,  101. 
Forms  and  blank  books,  1. 
Fractions,  how  to  treat,  15. 

Gain  (83)  —  See  "  profit." 

Household  expenses,  109 ;  exercise 
for,  109 ;  special  column  journal 
for,  110,  116. 

Incidental  accounts,  73;  exercises 
for,  75 ;  illustration  of,  74 ;  rule 
for  debiting  and  crediting,  73. 

Indorsee  (56,  64)  —  The  person  to 
whom  a  note  or  order  is  trans- 
ferred by  indorsement. 

Indorsements,  55;  effect  of,  55; 
exercise  in  writing,  56. 

Indorser  (55,  64)  —  The  person 
who  transfers  a  note  or  order  by 
indorsement. 

Insolvency  (83)  —  The  condition 
in  which  the  liabilities  exceed  the 
assets. 

Inst*  —  Of  the  present  month. 

(nterest,  exercise  for,  75 ;  illustra- 
tion of  account  with,  74. 

Inventory  (83)  —  A  list  of  articles 
on  hand  at  a  given  time  with  their 
respective      values      computed. 


usually  at  the  cost  price.  Exer- 
cise for,  89. 

Investment,  present  (83)  —  See 
"  present  investment." 

Invoice  (80)  —  A  statement  of  in- 
debtedness. A  form  of,  80; 
exercises  for  writing,  81. 

Item  —  A  separate  particular  in  a 
transaction  or  in  an  account. 

Journal,  a  special  column  for  house- 
hold expenses,  110. 

Liabilities  (83)  —  Everything  that 
a  person  (or  concern)  owes  to 
others  on  notes,  on  account,  or 
otherwise.  Statement  of  assets 
and  Uabilities,  84. 

Loss  (83)  —  The  excess  of  the  cost 
over  the  selling  price,  or  a  de- 
crease in  value.  Also  outlays 
incidental  to  the  conducting  of  a 
business.  Methods  of  finding, 
35. 

Loss  and  profit,  methods  of  finding, 
34. 

Loss  and  profit  account  (91)  —  The 
account  into  which  the  losses 
and  the  profits  of  a  business  are 
collected.  Illustration  of,  98 ; 
rule  for  debiting  and  crediting, 
92. 

Maker  of  note  (51)  —  The  person 
who  signs  it ;  that  is,  the  person 
who  promises  to  pay  it. 

Maturity  of  notes,  drafts,  etc.  (55) 
—  The  date  when  they  are  due. 

Meals,  exercise  for  finding  cost  of, 
114. 

Money  (3)  —  The  gold,  silver,  nickel, 
and  copper  coins  made  by  the 
government ;  also  the  paper  cur- 
rency issued  by  the  government. 


INDEX  AND  GLOSSARY 


125 


Negotiable,  52. 

Net  loss   (97)  —  The  excess  of  the 

losses  over  the  profits. 
Net  profit  (97)  —  The  excess  of  the 

profits  over  the  losses. 
Non-negotiable,  52. 
Note  (52)  —  See  '*  promissory  note." 
Note  receivable,  59;   payable,  59. 

Order  (64)  —  A  request  of  one  per- 
son on  a  second  to  pay  money 
or  to  deliver  goods  to  a  third 
person.  Classes  of,  65 ;  illus- 
tration of,  64 ;  parties  to  an,  64. 

Payee  (51,  64)  —  The  person  to 
whom  the  money  called  for  in  a 
note,  check,  draft,  etc.,  is  to  be 
paid. 

Personal  accounts  (26)  —  Accounts 
with  individual  persons,  firms, 
and  corporations.  Exercises  for, 
26 ;  illustration  of,  27  ;  rule  for 
debiting  and  crediting,  26. 

Physicians,  a  special  column  cash- 
book  for,  118. 

Present  investment  (83)  —  Amount 
that  is  invested  in  a  particular 
business  at  the  time  in  question. 

Present  worth  (83)  —  What  a  per- 
son (or  concern)  is  actually 
worth  at  the  time  in  question. 
Methods  of  finding,  83,  96. 

Profit  (83)  —  The  excess  of  the  sell- 
ing price  over  the  cost,  or  an 
advance  in  value.  Also  any  re- 
turns for  services  rendered. 
Method  of  finding,  34. 

Promissory  note  (51) — A  written 
promise  of  one  person  to  pay  to 
another,  or  to  his  order,  a  speci- 
fied sum  of  money  at  a  desig- 
nated time  or  at  a  time  certain 
to    occur.     Account    with,    58; 


exercise  in  writing,  56 ;  form  of, 
52 ;  illustrations  of,  52 ;  illus- 
tration of  account,  59 ;  indorsee 
of,  55 ;  indorsement  of,  55 ;  in- 
dorser  of,  56 ;  maker  of,  51 ; 
maturity  of,  55;  negotiability 
of,  52 ;  parties  to  a,  51 ;  pay- 
able, 59  ;  payee  of,  51 ;  receiv- 
able, 59;  rule  for  debiting  and 
crediting,  59. 

Property  accounts  (34)  —  Accounts 
with  items  of  value  and  repre- 
sentatives of  value.  Exercises 
for,  37  ;  illustration  of,  36 ;  rule 
for  debiting  and  crediting,  35. 

Proprietor's  account,  91 ;  rule  for 
debiting  and  crediting,  91. 

Receipt  (78)  —  A  written  acknowl- 
edgment of  a  payment  of  a  debt. 
Exercises  for  writing,  79 ;  illus- 
tration of,  78. 

Red  ink,  use  of  —  See  under  "  rul- 
ing," 4. 

Re-opening  an  account,  4. 

Resources  (82)  —  See  *'  assets." 

Ruling,  4. 

Savings  bank  account,  70 ;  exercise 
for,  71. 

Short  extend  (112,  footnote)  —  To 
put  several  amounts  in  the  item 
column  and  extend  the  sum  to 
the  money  column. 

Single  entry  bookkeeping  —  A 
method  of  bookkeeping  in  which 
a  record  is  made  for  only  the 
debit  or  the  credit  item  involved. 

Special  column  books,  109, 110,  116, 
118,  120. 

Statements  (82,  83)— An  exhibit, 
in  a  convenient  form,  of  the 
principal  facts  of  a  business  or 
of  some  phase  of  the  business. 


126 


INDEX  AND  GLOSSARY 


Exercises 
of,  84. 


for,    86 ;     illustration 


Trial  balance  (96)  —  An  exhibit  of 
the  debit  and  credit  footings  of 
a  series  of  related  accounts  to 


determine  whether  the  sums  of   Ult.  (ultimo)  —  Of  last  month. 


these  footings  are  equal.  Or  the 
sum  of  the  differences  between 
the  debit  and  credit  footings  of 
each  account  may  be  taken. 
Illustration  of,  96. 


Printed  in  the  United  States  of  America. 


'HE  following  pages  contain  advertisements  of  a  few  of 
the  Macmillan  books  on  kindred  subjects 


Agricultural  Arithmetic 

By  W.  T.  STRATTON,  A.M. 

Assistant  Professor  of  Mathematics,  Kansas  State  Agricultural  College,  and 

B.  L.  REMICK,  Ph.M. 

Professor  of  Mathematics,  Kansas  State  Agricultural  College. 

C  loth,  / 21/10,  illustrated,  x  +  2jg  pages,  $o.jo 

The  text  provides  a  brief  course  in  arithmetic  for  students 
interested  in  agriculture.  The  text  is  adapted  to  the  require- 
ments of  advanced  classes  in  elementary  schools  in  communities 
outside  the  large  city,  in  the  agricultural  high  schools,  and  in 
other  schools  having  agricultural  courses. 

The  purpose  throughout  has  been,  first  of  all,  to  present  the 
basic  principles  of  arithmetic.  To  accompHsh  this  end  use  is 
made  of  the  real  problems  which  students  meet  in  their  every- 
day lives  on  the  farm  and  in  connection  with  the  transactions  of 
immediate  business  on  the  farm. 

Agricultural  data  of  the  problems  are  based  upon  the  most 
recent  reports  of  the  various  State  Experiment  Stations  and  of 
the  United  States  Department  of  Agriculture.  From  the  facts 
so  displayed  in  their  mathematical  relation,  the  student  not  only 
obtains  sufficient  material  for  drill  in  arithmetical  processes,  but 
also  is  led  to  a  better  appreciation  of  farm  life. 

To  meet  the  needs  of  students  differing  widely  in  ability  to 
handle  readily  the  ordinary  combinations  of  numbers,  this  book 
devotes  some  time  to  a  review  of  the  four  fundamental  opera- 
tions, common  fractions,  and  decimals.  The  principles  of  per- 
centage are  applied  to  dairy,  seed,  feeding,  spraying,  fertilizing, 
and  poultry  problems.  Commission,  gain  and  loss,  interest, 
business  papers,  insurance,  and  taxes  are  presented  with  prob- 
lems within  the  range  of  the  actual  experience  of  a  student  in- 
terested in  farming.  The  text  includes  specific  gravity,  levers, 
balanced  rations,  silos,  and  farm  accounts. 


THE    MACMILLAN    COMPANY 

BOSTON  NEW  YORK  DALLAS 

CHICAGO  SAN  FRANCISCO  ATLANTA 


Community  Civics 

By  JESSIE  FIELD 

Formerly  Superintendent  of  Schools,  Page  County,  Iowa, 
author  of  "  The  Corn  Lady,"  and 


SCOTT  NEARING 

Professor  of  Social  Science,  Toledo  University, 
author  of  "Income,"  "  Social  Adjustment,"  etc. 


Cloth,  i2mo,  illustrated,  x  +  ^yo  pages,  $0.60 


"  Community  Civics "  is  designed  to  train  boys  and  girls 
in  citizenship.  It  aims  to  teach  them  to  see  beauty,  truth, 
strength,  and  opportunity  in  country  Hfe ;  to  understand  the 
meaning  and  purpose  of  community  institutions  —  the  home, 
schools,  libraries,  clubs,  associations,  and  the  visible  means 
of  pubHc  service ;  to  work  for  the  ideals  of  country,  maxi- 
mum production,  effective  methods  of  business,  high  stand- 
ards of  living,  and  thoughtful  consideration  of  life's  problems ; 
and  to  take  an  active  interest  in  community,  state,  and  national 
affairs. 

"  Community  Civics "  is  a  moving  treatment  of  civic  af- 
fairs in  the  community  and  in  the  larger  community  of  state 
and  nation.  It  is  concerned  with  the  civic  conditions  and 
social  agencies  of  to-day  and  to-morrow.  It  is  suited  for  the 
use  of  children  in  elementary  schools  everywhere  except  those 
in  large  cities. 

THE   MACMILLAN   COMPANY 

BOSTON  NEW  YORK  DALLAS 

CHICAGO  SAN  FRANCISCO  ATLANTA 


THE  HOME-MAKING  SERIES 

Food  and  Health 

AN  ELEMENTARY  TEXTBOOK  OF  HOME  MAKING 
By  HELEN  KINNE 

Professor  of  Household  Arts  Education,  Teachers  College,  Columbia  University;  Authoi 
of  "  Foods  and  Household  Management  "  and  "  Shelter  and  Clothing,"  and 

ANNA  M.   COOLEY,    B.S. 

Assistant  Professor  of  Household  Arts  Education,  Teachers  College,  Columbia  University; 
Author  of  "  Foods  and  Household  Management "  and  "  Shelter  and  Clothing." 

Cloth,  i2mo,  illustrated,  ji2  pages,  $0.6^ 

''  Food  and  Health  "  aims  to  instruct  by  means  of  projects 
taken  from  daily  life,  and  thus  to  vitalize  the  lessons  in  cookery 
and  sanitation.  The  lessons  center  about  the  problem  of  the 
meal  —  preparing  and  serving  food  at  school  and  at  home,  to- 
gether with  the  study  of  food  values  and  of  raising  and  selling 
as  much  as  buying  food.  Such  allied  topics  as  water  supply, 
cooking  apparatus,  and  disposal  of  waste  in  the  home  kitchen, 
and  other  matters  of  sanitation,  are  woven  in  with  the  lessons 
on  nutrition  and  cooking. 

The  story  of  Marjorie  Allen  in  school,  with  Miss  James,  the 
teacher,  and  with  the  girls  and  the  boys  of  Pleasant  Valley,  con- 
nects all  the  lessons  of  the  series,  wins  and  holds  the  interest, 
and  builds  up  in  the  mind  of  the  pupil  an  ideal  of  happy,  health- 
ful school  and  home  life. 

The  dominant  thought  of  the  series  is  to  create  an  ideal  of 
home  making  and  to  train  boys  and  girls  in  rural  communities 
to  work  for  this  ideal. . 


THE    MACMILLAN    COMPANY 

BOSTON  NEW  YORK  DALLAS 

CHICAGO  SAN  FRANCISCO  ATLANTA 


THE  HOME-MAKING  SERIES 

Clothing  and  Health 

AN  ELEMENTARY  TEXTBOOK  OF  HOME  MAKING 
By  HELEN  KINNE 

Professor  of  Household  Arts  Education,  Teachers  College,  Columbia  University;  Author 
of  "  Foods  and  Household  Management  "  and  "  Shelter  and  Clothing,"  and 

ANNA  M.   COOLEY,   B.S. 

Assistant  Professor  of  Household  Arts  Education,  Teachers  College,  Columbia  University; 
Author  of  "  Foods  and  Household  Management  "  and  "  Shelter  and  Clothing." 

Cloih,  jsmo,  illustrated,  JC2  pages,  $0.6j 

"  Clothing  and  Health  "  treats  largely  of  the  clothing  prob- 
lems and  of  the  elementary  work  in  sewing  which  precedes 
garment  making.  It  also  includes  the  subject  of  the  leading 
textile  materials,  —  where  they  are  grown  and  how  they  are 
manufactured  ready  for  our  use.  Such  topics  as  the  hygiene 
of  clothing,  buying  materials  and  clothing  wisely,  the  clothing 
budget,  the  use  of  the  commercial  pattern,  the  care  and  repair 
of  clothing,  color  combinations,  and  attractiveness  in  dress,  are 
woven  in  with  the  lessons  on  sewing  and  textiles,  in  a  very 
simple  and  elementary  way. 

At  the  beginning  of  each  lesson  the  project  is  presented  in 
the  form  of  a  question  or  a  problem.  Exercises  and  Problems 
review  the  main  points  and  give  suggestions  for  home  work 
based  on  the  lesson  studied  in  school. 

The  plan  is  new.     The  method  is  new. 


THE    MACMILLAN    COMPANY 

BOSTON  NEW  YORK  DALLAS 

CHICAGO  SAN  FRANCISCO  ATLANTA 


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